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Cautious - You're right on target........... one can not lump all types of REITs together......... Office & Apartment look better than Malls right now, on a relative basis.SPG & WRI not going to do as well this year as, for example HRP.I am at a loss to come up with a specific example of an Apartment REIT that I have/or did have recent experience with. I bailed from a lot of Apartment Building investments when Greenspan lowered the interest rates and caused the current housing bubble. Vacancy was a major issue.As it(vacancy) will be with Malls - mild or severe, this recession will last 12 months, at a minimum. IMHOSalty