History of Real estate in Timeline

Real estate encompasses land, buildings, and natural resources affixed to it. Legally distinct from personal property, 'real' signifies land, while 'estate' represents the ownership interest. It covers diverse interests in immovable property, from natural resources to general housing.

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 and term "realtor" coined

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

In 1929, the stock market crash and the Great Depression in the U.S. caused a major drop in real estate worth and prices, resulting in a 50% depreciation over the next four years.

1933: Banking Act of 1933

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

1934: National Housing Act in 1934

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

1938: Amendment to National Housing Act and establishment of Fannie Mae

In 1938, an amendment was made to the National Housing Act, and Fannie Mae, a government agency, was established to serve as a secondary market for mortgages and give lenders more money for funding new homes.

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 in the U.S. and dealt with incorporating African Americans into neighborhoods by analyzing discrimination issues in renting, buying, and financing homes.

1999: Internet real estate platforms appear

In 1999, Internet real estate as a concept began with the first appearance of real estate platforms on the World Wide Web (www).

2019: Real estate contributes to greenhouse gas emissions

According to the International Energy Agency, in 2019, real estate was responsible for 39 percent of total emissions worldwide, with 11 percent of those emissions due to the manufacturing of materials used in buildings.