Real Estate Principles for the New Economy reflects the new perspectives and practice in both industry and the academic world and the new possibilities brought about by the information technology revolution. Miller/Geltner integrate the developments in the field of financial economics that have become basic to the understanding of, and professional practice within, the real estate field. These developments include capital markets equilibrium theory and portfolio theory. The authors discuss the implications of technology on both the specializations within the real estate industry and various property types. They utilize and demonstrate the importance of new data and tools such as those provided by Geographic Information Systems or through the resources of the Worldwide Web. Real Estate Principles provides new global perspectives, which require the reader to become sensitive to cultural differences that may influence business decisions, risk management and negotiation strategies. Miller/Geltner also consider the impact of new security and terrorism concerns since the tragic events of September 11, 2001.