...Larry Wofford Purpose Time is a critical element of commercial real estate (CRE) and has received only cursory attention. This paper identifies and describes the interactions between time, change and CRE. It leads to important implications and possible changes in professional practice, teaching...

... greater weight to the most recent observations to see if such a weighting scheme can offer improved ex ante performance over that based on unweighted data. Both schemes of time weighting to better estimate the future values portfolio parameters can be justified on two counts. First simplicity...