In 1960, the US Congress created something called a REIT,
Real Estate Investment Trust.
And I believe the US was the first country.
But I shouldn't say that I know that.
There's so many things that happen.
Often, the US is not the first to do something but it becomes a leader in
finance, a leader toward a movement, so something will happen.
But it was new, definitely in the US, in 1960.
So the complaint was, I, a little guy, just can't invest in all of these
buildings that have been making so much money for rich people.
It's unfair.
So, the US government created a new kind of investment vehicle
called a REIT, that would be available to small investors, and
they'd be regulated to be safe.
But it wouldn't necessarily be safe, because you're investing in a real estate,
and if a real estate goes bad.
But at least they won't be taken advantage of.
And they also get the tax break.
You could have set up a corporation before this that owned real estate,
but they would be paying corporate profit tax.