The Evolution of Real Estate in the Economy

Dapeng Hu and Anthony Pennington-Cross

Journal of Real Estate Portfolio Management, 2001, vol. 7, issue 2, 169-176

Abstract: Executive Summary. While the economy as a whole has been rapidly changing in response to technological innovation, real estate has evolved from a depository of wealth for households and assets for corporations into a major force in the debt and equity markets. In contrast, the role of real estate as a contributor to the nation's output and income has remained steady at approximately 11% of gross domestic product.

Date: 2001
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DOI: 10.1080/10835547.2001.12089635

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