How did the real estate business come to be as we know it? The real estate industry can be traced back to the late 19th century. However, it did not begin to take the shape of the business it is today until the early 20th century. The National Association of Realtors (NAR), established in 1908, exists to protect and promote the interests of realtors and ensure the quality of service to the public.

The American dream is to own property such as a home, land, or both. Despite a substantial increase in the number of people who own their homes since the 20th century, the idea of owning a home arose in agrarian societies, where families sold their crops and livestock at markets, which were sometimes owned by wealthy landlords.

Investment properties, flipping, and online sales are now a part of the market after a series of evolutionary shifts. Land ownership is deeply rooted in human history. Rights to land were transferred between generations. It wasn’t until early agricultural societies that people began to settle on the land. Land rights were passed down through the generations. Early agricultural societies were the first to colonize the area.

In the early days of the United States, renting land to tenants became popular. This was followed by a boom in real estate following World War II and the Great Depression. Due to fluctuating property values, real estate has become a very attractive investment for many people.

In 1960, the federal government passed legislation allowing investors to benefit from real estate investment trusts, opening the door for people to purchase and resell homes for a profit. However, real estate investing didn’t really take off until the recession of the 1980s.

Ownership, specifically the ownership of land, was the basis of all the investment opportunities we see today. Ownership is now a commodity that may be bought, sold, traded, and rented instead of being created by force.

A charge paid to the owner for the use of the land and its defense has traditionally been a trade-off for tenancy. Tribal chiefs were given this duty initially, followed by kings, and later landowners. We now have the ability to own our homes, which has altered how people live.

What many opportunities afford those who forge to own their homes.