New Property Places

The property markets increasingly are defined by new perspectives, whichchallenge, even obsolete past thinking. Whereas once markets might havebeen evaluated in terms of populations by cities, or countries, new placethinking has challenged traditional models.Some, such as former New York Mayor Michael Bloomberg asserts that thecity is a far more significant political unit than his state or country. Theemergence of regional blocks, specifically the European Union, dominatescountries. More and more, cities are larger and more influential than manycountries. The most significant and powerful states exert more economicinfluence than do many countries. Further, new types of organizationsemerge, that command more comparable if not more loyalty than traditionalplaces and exert greater influence in many influences than traditionalphysical places.Identifying the forces that have led to new place organizations and thenconsidering a new place influence power ranking offers important insights tothose in property involvements. Portfolio managers may think verydifferently about how to assemble a diversified portfolio. Property serviceenterprises may view markets differently than they might have previously.Professionals seeking opportunities for jobs and new business may look atthe markets in different ways.