Document Type

Working Paper

Publication Date



structured finance, securitization, mortgage loans, risk, shadow banking, real estate investment trusts, REITs


This is a relatively brief “firestarter” talk prepared by the author for the World Economic Forum’s Industry Partnership Strategists Meeting 2012 (held on October 3, 2012) on transformation of the real estate sector in light of ongoing shifts in the financial markets and broader global trends.

Library of Congress Subject Headings

Real estate investment trusts, Mortgage-backed securities, Banks and banking, Security (Law), Risk, Asset-based financing