Industry News

U.S. real estate going global

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The U.S. real estate industry has increasingly global ties, according to a report by researchers at the University of California, Berkeley, with residential brokerage companies, developers and others pursuing international expansion in fast-growing markets. "Globalization of the real estate industry is now a fact of economic life," according to the report. "U.S. firms, along with firms from many other countries, find themselves facing major opportunities and challenges in the suddenly global real estate market." Produced by researchers at the university's Fisher Center for Real Estate & Urban Economics, the report notes that globalization increasingly has involved the service sectors in the past decade, "and the various subsectors of the real estate industry have been enthusiastic participants in this global surge." "Builders, brokerage firms, consulting and services firms, real estate finance firms and investors have extended their area of operations beyond local markets ...