The structure of the property industry makes it difficult to be agile. Long construction timeframes and expensive physical assets that are built-to-last make it harder to pivot and experiment. Large capital costs drive a low risk taking environment. […] But things are moving fast.
To get the most out of the modern world, you need to learn to value experiences, not stuff. Welcome to the experience economy, where what you do matters a lot more than what you own.
Nike no longer just sells shoes, they’ve created ‘Niketown’ which is more akin to a theme park than a shoe store, while tourists are switching hotels for AirBnb, not just for cost but to experience a neighbourhood as locals do.