1. E x p E c TaT I O n s & M a R k E T R E a L I T I E s I n R E a L E s TaT E 2 0 1 1
BALANCING RISK AND RETURN IN AN ERA OF UNCERTAINTY
DELOIT TE | R E a L E s TaT E R E s E a R c h c O R p O R aT I O n | R E a L c a p I Ta L a n a Ly T I c s
3. E x p E c TaT I O n s & M a R k E T R E a L I T I E s I n R E a L E s TaT E 2 0 1 1
BALANCING RISK AND RETURN IN AN ERA OF UNCERTAINTY
DELOIT TE | R E a L E s TaT E R E s E a R c h c O R p O R aT I O n | R E a L c a p I Ta L a n a Ly T I c s