In this summary, some of the industry s major players provide their thoughts on technology and real estate-past, present and future. About Innovation Technology is about risk taking, innovation and entrepreneurship, noted Brad Inman, CEO of HomeGain during Real Estate Connect s 2000 Conference. Too many want to hold onto old business processes. As a result, they are underserving the consumer. Dr. Ed Yardeni, Chief Economist with Deutsche Banc Securities seconded that appraisal explaining that You have to constantly innovate in order to give consumers what they want.
New innovation puts others out of business.
These market slowdowns simply bring back to realistic levels what we can actually do. A bounce back will occur when business plans are developed which look halfway intelligent. However, Downs noted that the emergence of the New Economy has resulted in a turning point in real estate markets. Overall, real estate represents a much smaller part of economic growth than it did in the 1980s-1990s. Commercial real estate has become less important to the economy than high technology.