What investment becomes liquid when securitized?

Securitization converts pools of illiquid assets into marketable securities that can be sold to investors. Real estate is a classic example because mortgages or real estate-related cash flows can be pooled and transformed into securities, such as mortgage-backed securities. This process improves liquidity because investors can buy and sell claims on the asset pool rather than directly owning the underlying property. Gold is already a highly liquid commodity and does not need securitization to become liquid. Fine art is illiquid, but it is not the standard example in Canadian securities course material for securitization. An airport may be an infrastructure asset, but it is not the best answer in this context. Real estate is the correct securitized asset.