This simplistic sound bite is directionally correct, but as Bill Gates’ quote illuminates, it may be a little, or lot, off on the timing. As they say, “in the end we all die”…. but there is a lot of time between now and then, hopefully! I think the important part of Gates’ quote is, “Don’t let yourself be lulled into inaction.” Another way is to take the opportunity when disruptions occur to adapt and innovate to meet changing needs. I have been lucky to be in the real estate game for a long time, and it has been fun to see the many leaps forward in the industry. The capital formation became further institutionalized with the advent of securitization, public REIT’s, Private REIT’s, and other financial vehicles. Development always advances with the creation of new materials and construction techniques–a six-story tilt wall, give me a break! One million square feet of warehouse under one roof–come on. Timber construction for office buildings–oh my! Click to read more at www.dmagazine.com.