Summer 1998, Vol 23, No 2

Abstract: Based upon the experiences of various industries going through changes of state in the past quarter-century, real estate should not expect the process to be a smooth one. This article, through a discussion of the airline industry’s ‘change of state’ in recent years, offers predictions on the changes expected in the real estate industry. Thus far real estate has been spared much turbulence in the period since 1993 when public-market investments in real estate have exploded. According to this author, “Don’t count on this continuing.”