The Evolution of REITs: From Niche to Necessity

This chapter examines the transformation of the Real Estate Investment Trust (REIT) sector, detailing its historical origins and significant developments since 1960. It highlights the role of NAREIT, the impact of the 1980s credit crisis, and the rise of modern equity REITs alongside specialty sectors due to technological advancements. The discussion further explores the regulatory framework, market dynamics, and how interest rate fluctuations impact REIT valuations within the broader real estate economy.