Good debate this. I see where you're coming from but...

Good debate this. I see where you're coming from but imagine the worst possible scenario for REITs like SCG. The worst.

The more I'm kept home the more I'll be keen to get back and shop, cinema etc. when we're finally all vaccinated. A few businesses will go bust but when we're vaccinated others will be lining up to take their place imho. In the interim it's the businesses suffering more than the landlords. It was ever thus.

REITs sitting on a mountain of debt might have an issue but most are now in a comfortable position, cash flow positive in the worst of circumstances and just waiting until it all blows over and STILL paying 5% while we wait.

Just have a look at the property they own, if retail really turns to dust as you seem to think they'll surely carve off some land and build apartments.

You mention office REITs but surely that's for a different thread.