The definition of real estate is “land and the improvements associated with it,” be it
structures (buildings), crops, or even mineral rights. It is part of the class of investment
vehicles known as “real assets,” which include things like commodities and natural
resources. The reason these get lumped together is that they tend to have many of the same
characteristics – they are a “real asset” in that we can touch and feel them, they tend to be
more long-term in nature, and they guard against inflation.