“The Influence of macro changes on real estate fundamentals” – paradigm shifts in real estate are happening, including new sensitivity to uses of energy, changing needs for office space, negative real interest rates and the search for yields, and significant statutory and regulatory changes. Macro events are causing and will continue to cause significant paradigm shifts, including changes in fundamentals and many of the norms which impact real estate and to which the real estate market has become accustomed. What are those shifts? Are they permanent or transitory? The 2013 Crocker will address some of these impacts and how they affect existing assets, future development and real estate investments.