History of Real estate in Timeline

Real estate encompasses land, buildings, natural resources, and any immovable property. It distinguishes itself from personal property in legal terms. The term 'estate' refers to the degree of interest or rights a person holds in that land. Real estate includes residential, commercial, and industrial properties and investing in it can be a way to build wealth and secure financial future. The real estate market can be influenced by factors like interest rates, economic growth, and population changes.

1908: National Association of Realtors Founded

In 1908, the National Association of Realtors was founded in Chicago.

1916: Name Changed to National Association of Real Estate Boards

In 1916, the name of the National Association of Realtors was changed to the National Association of Real Estate Boards. The term "realtor" was also coined in 1916 to identify real estate professionals.

1929: Stock Market Crash and Great Depression

In 1929, the stock market crash and the Great Depression in the U.S. led to a major drop in real estate worth and prices.

1933: Banking Act of 1933

The Banking Act of 1933 greatly affected housing financing in the U.S.

1934: National Housing Act Enacted

In 1934, the National Housing Act allowed for mortgage insurance for home buyers, implemented by the Federal Deposit Insurance and the Federal Housing Administration.

1938: Fannie Mae Established

In 1938, an amendment to the National Housing Act led to the establishment of Fannie Mae, a government agency.

1968: Fair Housing Act Put into Place

In 1968, Title VIII of the Civil Rights Act, also known as the Fair Housing Act, was put into place, addressing discrimination issues in renting, buying, and financing homes.