I’ve always disliked the REIT (real estate investment trust) structure in the belief that it forces a company to operate in a highly unnatural way. Mandatory cash distributions forces most REITs to constantly access capital markets. They seem to be in a constant search for cash. In any case, REITs frequently end up over-leveraged, at least to my liking.

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NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By
3d rendering of a row of luxury townhouses along a street

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