Real Estate: Old Formula, New Field

The first Marshall Field, who made much of his $100 million fortune† in land speculation during the late 19th century, once remarked: "Buying real estate is not only the best way, the quickest way and the safest way but the only way to become wealthy." For decades, major U.S. industrial and financial corporations ignored the Field formula, leaving the business of real estate largely to its own local operatives. Now the trend is running the other way. So many huge companies have been expanding into real estate and building that the nation's largest industry, construction, is undergoing a remarkable change.

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