Shop Talk: The cyclicality of real estate Why are commercial real estate cycles different than cycles of other asset classes? What are the three big cycles that drive the overall cycles governing commercial real estate? Why is DTU — or demographics, technology and urbanization — so critical to commercial real estate success, and where is the DTU dynamic most prominently manifesting itself? Allan Swaringen, president and CEO of JLL Income Property Trust, explains. (08/2016)