Real Estate: Past, Present, and Future
Sam Zell reflects on the continuing evolution of the real estate industry, of which he is an icon. He describes the arbitrage potential of an average 6 percent interest rate relative to an inflation rate of 9 percent, the birth of opportunity funds, the development of the con-cept of the "real estate elitist," and the existence of a market - composed of relatively small players who could borrow money because they had connections with local banks - transformed to an industry offering an astonishing opportunity for marketing. He pre-dicts that the CEOs of the industry leaders of the future will be much more operations-oriented and may have no real estate experience.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
|Date of creation:|
|Date of revision:|
|Contact details of provider:|| Postal: 256 South 37th Street, Philadelphia, PA 19104-6330|
Web page: http://zell-lurie-center.wharton.upenn.edu/working.html
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:wop:pennzl:416. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel)
If references are entirely missing, you can add them using this form.