Abstract:
Land and the improvements on it. Real estate is one of the primary (and indeed one of the only) assets
whose value does not depreciate over time. Depending on the particular title, ownership of real estate
may include mineral rights to any geophysical aspects occurring thereon. Ownership of real estate does
not automatically include the right to develop it, depending on local regulations. However, development
of real estate (for example by building a house on it) usually increases the value. While supply of real
estate does not vary, demand may change greatly depending on its particular features, number of people
in the area, and cultural differences regarding land ownership. It is an attractive form of collateral
because it cannot be stolen or destroyed.
