History of Real estate in Timeline

Real estate encompasses land, buildings, and natural resources. Legally, it differs from personal property, focusing on land-related "interest" or ownership. It includes various elements such as crops, minerals and other natural resources. The definition broadly covers immovable property, real property, and housing.

1908: National Association of Realtors Founded

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

1916: Name Change to National Association of Real Estate Boards

In 1916, the National Association of Realtors changed its name to the National Association of Real Estate Boards, and the term "realtor" was coined 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

In 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 was enacted, allowing 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, to serve as a secondary market for mortgages and provide more funds to lenders for new home financing.

1968: Fair Housing Act Put Into Place

In 1968, Title VIII of the Civil Rights Act in the U.S., known as the Fair Housing Act, addressed discrimination issues in renting, buying, and financing homes, aiming to incorporate African Americans into neighborhoods.

1999: Internet Real Estate Begins

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's Contribution to Greenhouse Gases

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 attributed to the manufacturing of materials used in buildings.