Vol no: 4
By definition, real estate is characterized by its non-movability and permanence. In contrast, an increasingly globalizing world is increasingly “wandering” and evolving toward an “economy of impermanence” [Kolodko 2008]. Real estate and real estate investing, on the other hand, inherently require a longer-term view. Hence, one of the important challenges in today’s economy is the rational, efficient reconciliation of these opposing trends.