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A third big change is privatization. For many years much of the world real estate, particularly in the former Soviet Union and Mainland China, was previously help in public rather than private ownership form. With the decline of many state governments and the emergence of more democratic forms of government and market based economies there has been a parallel emergence of market institutions and properties. Many who previously could not own property can and do own property. Private property markets are being created in major parts of the world.