REIT-volution: REITs Continue to Adapt to Dynamic Economy

Richard Ziman

When President Dwight D. Eisenhower signed the Cigar Excise Tax Extension Act of 1960 into law, the bill authorized REITs in the United States. In the beginning, the industry primarily consisted of companies owning mortgages. Yet, over time, the REIT approach to real estate investment has demonstrated the capacity to evolve to fit the changing demands of the economy at large.


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