Crowdfunding was once touted as the next big thing — a way for average investors to get into the lucrative world of real estate and a way for platforms to tap a new spigot of funding. The space took off around 2013, when the U.S. Securities and Exchange Commission announced new rules allowing private companies to sell securities to the general public. That one small change — which was tucked into the 2012 federal JOBS
source https://therealdeal.com/issues_articles/crowded-out/
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