The use of the term alternative investments has increased significantly over the last few years. This trend began when investors and advisers started looking for ways to get a reasonable return on their investment dollars without using the traditional equity market. Industry practitioners have generally indicated that making an alternative investment in real estate could prove to be a good addition to your portfolio. Dr. Mark Anson1 states in the publication Handbook of Alternative Assets that we do not consider real estate to be an alternative asset class. He cites several reasons for his position that real estate should not be considered as an Alternative Investment. One reason advanced is that real estate was an asset class long before stocks and bonds became the investment of choice. He maintains that over the past 200 years, the economic society changed from one based on the ownership of property to the ownership of legal entities. Dr. Anson in furtherance to his argument expresses the view that stocks and bonds became the alternatives to real estate instead of vice versa. He states that stocks and bonds were born to support the financing needs of new enterprises that manufactured material goods and services. In fact, stocks and bonds became the alternatives to real estate instead of vice versa. With the advent of stock and bond exchanges, and the general acceptance of owning equity or debt stakes in companies, it is sometimes forgotten that real estate was the original and primary asset class of society. Dr. Anson adds we do not consider real estate to be an alternative asset class as much as we consider it to be an additional asset class. Real estate is not an alternative asset to stocks and bonds. Instead, it is a fundamental asset class that should be included within every diversified portfolio. Consider the statements advanced by Dr. Anson and critically evaluate the arguments presented and state your support FOR or AGAINST the treatment of real estate as an Alternative Investment. You are expected to provide adequate information to support your position.