[Excerpt] Dear Readers, Welcome to the sixth volume of the Cornell Real Estate Review, a publication of the Cornell University Program in Real Estate. This volume continues to reflect the nexus between theory and practice that is a hallmark of the program’s curriculum as well as the mission of the Review. As this issue is being sent to press much uncertainty remains regarding the nature and duration of this down cycle. Now more than ever, we see the relevance in bringing together scholarly discourse and professional expertise to gain a fuller understanding of the issues confronting the industry and where to go from here.