In “Technology, innovation and Disruption,” Jack Silbey and Filippo Rean highlight challenges for commercial real estate. As recent innovation in other industries has proceeded at a rapid pace, little has changed in the commercial real estate industry. The holding period for real estate is very long compared to other alternative asset classes, yet there is now a heightened pace of obsolescence. The industry is being disrupted. Commercial real estate is feeling the impact of innovation from exogenous industries and must adapt. Read the full summary below.
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