4State Backgrounding Everything You've Learned About Real Estate

The history of real estate is tightly tied with man's quest for settlement and his constant search for a permanent home. It started back during pre-historic times of the tribal system and started to take shape during the feudal system where tenancy and taxes began to predominate. Back then, peasants and merchants bought, rented or sold properties under the nose of the royal class. When aristocracy was put to end in most areas of the world, the system of renting and taxation was put in the responsibility of politicians. Title lands came into existence, and lands were sold in what seemed like a free market in favour of merchants and citizens with money.

The idea of mortgages also existed way, way back and there is no particular country that its history can be traced to. Initially available only to the noble class, the industrial revolution effectively equalized the system as the wealth of the world became even. This was when mortgage loans began to be granted even for common people, who then were able to own and build homes for themselves.

In the United States, the idea of organized Real Estate came to be in the late 19th century. The National Association of Real Estate Exchanges was founded in 1908, which sought to unite those in the industry for the purpose of unifying efforts for the interest of real estate. It was in the early 1920's when various states adopted real estate licensing laws. About a decade after that, America experiences the great depression which led to the collapse of the real estate market.