The Problem of Asynchrony and the Wedge
By Mark Smith —
This is a primary cause of sprawl and it is too little understood.
If a one or two story building is constructed, its economic and environmental characteristics and performance are relatively fixed. See the green area in Exhibit 1.
The problem is that losses from asynchrony can begin shortly thereafter as the market begins to evolve but the building and site can’t adjust–the asset cannot coevolve with the market. Losses grow over time. See the orange area in Exhibit 1.
More to follow on the problem of asynchrony, and solutions for it.
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