Real estate one of the biggest domain

1. Real estate is property consisting of land and the buildings on it, along with its natural resources
such as crops, minerals or water; immovable property of this nature; an interest vested in this (also)
an item of real property, (more generally) buildings or housing in general.
[1][2]
In terms of law, real is
in relation to land property and is different from personal property while estate means the "interest" a
person has in that land property.
[3]
Real estate is different from personal property, which is not permanently attached to the land, such
as vehicles, boats, jewelry, furniture, tools and the rolling stock of a farm.
In the United States, the transfer, owning, or acquisition of real estate can be through business
corporations, individuals, nonprofit corporations, fiduciaries, or any legal entity as seen within the law
of each U.S. state.
[4]
History of real estate
The natural right of a person to own property as a concept can be seen as having roots in Roman
law as well as Greek philosophy.
[5]
The profession of appraisal can be seen as beginning in England
during the 1500s as agricultural needs required land clearing and land preparation. Textbooks on the
subject of surveying began to be written and the term "surveying" was used in England, while the
term "appraising" was more used in North America.
[6]
Natural law which can be seen as "universal
law" was discussed among writers of the 15th and 16th century as it pertained to "property theory"
and the inter-state relations dealing with foreign investments and the protection of citizens private
property abroad. Natural law can be seen as having an influence in Emerich de Vattel's 1758 "Law of
Nations" which conceptualized the idea of private property.
[7]
One of the largest initial real estate deals in history known as the "Louisiana Purchase" happened in
1803 when the Louisiana Purchase Treaty was signed. This treaty paved the way for western
expansion and made the U.S. the owners of the "Louisiana Territory" as the land was bought from
France for fifteen million, making each acre roughly 4 cents.
[8]
The oldest real estate brokerage firm
was established in 1855 in Chicago, Illinois, and was initially known as "L. D. Olmsted & Co." but is
now known as "Baird & Warner."
[9]
In 1908, the National Association of Realtors was founded in
Chicago and in 1916, the name was changed to the National Association of Real Estate Boards and
this was also when the term "realtor" was coined to identify real estate professionals.
[10]
The stock market crash of 1929 and the Great Depression in the U.S. caused a major drop in real
estate worth and prices and ultimately resulted in depreciation of 50% for the four years after
1929.
[11]
Housing financing in the U.S. was greatly affected by the Banking Act of 1933 and the
National Housing Act in 1934 because it allowed for mortgage insurance for home buyers and this
system was implemented by the Federal Deposit Insurance as well as the Federal Housing
Administration.
[12]
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 to give
lenders more money in order for new homes to be funded.
[13]
Title VIII of the Civil Rights Act in the U.S., which is also known as the Fair Housing Act, was put into
place in 1968 and dealt with the incorporation of African Americans into neighborhoods as the issues

2. of discrimination were analyzed with the renting, buying, and financing of homes.
[14]
Internet real
estate as a concept began with the first appearance of real estate platforms on the World Wide Web
and occurred in 1999.