Red swan cre1/1/2023 Major industry processes such as property purchase and sale, financing, escrow, title, and investment services remain little changed since the 1990s or 2000s, meaning that real estate transactions can be slow, require a wide array of intermediaries, and be prohibitively expensive. The global value of real estate industry revenue is much smaller, at an estimated $2.2 to $3.3 trillion, but still dwarfs a wide variety of other industries, including machinery, oil and gas production, fashion, and consumer electronics.ĭespite the massive size and influence of the real estate industry, and the recent proliferation of real estate tech companies, many industry practices remain hidebound and stuck in the past. In 2020, the global value of the world’s real estate assets was estimated at a staggering $326.5 trillion, far larger than the value of all stocks, bonds, and currencies combined. Real estate is undoubtedly one of the largest and most important industries, both in the U.S. Blockchain Represents a Tremendous Opportunity to Revolutionize Real Estate, But Major Barriers Remain
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