We do it that way because we don't know how to model real estate into the rest of the investment portfolio.I'd fret less about it except there are some things in portfolio management that are downright counter-intuitive (such as adding higher risk securities to lower the overall risk of the portfolio).Has there been no economist since Markowitz who thought about adding real estate to the efficient frontier?

I think like an engineer / an economist / a statistician.

Of course, I'm sure there must be some economists or other professionals who stay abreast of the conditions in US markets and publish updated comparative analyses.

50%+ of economists don't know what they're doing and 99% of economists don't focus on my specific area.

The rate of inflation declined in October to 7.7% (from 8.2% in September) and Lawrence Yun, chief economist for the National Association of REALTORS®, believes this may mean that the mortgage rates have "topped out".

I didn't know that in addition to being filled with RE experts BP was also a vast untapped well of virologists AND economists. 

Even with rising mortgage rates and higher prices, economists say the housing market should remain strong due to very tight inventories and increasing demand as more millennials are projected to buy houses this year.Now millennials make up the largest share of homebuyers in the US, according to a 2020 survey from the NAR.

Now I'm no economist but when there is a recession or contraction in the economy usually travel and vacation budgets suffer.From the paper cited in the article:"The property types expected to provide the strongest inflation protection are the ones characterized by short-duration leases, or by rents linked to revenues.

That sounds great to me but while its hard to disagree with a Ph.D in a bow tie, most economist are like the weather men in our respected cities.

Economists have predicted ten of the last five recessions.