Sometime between 30,000 B.C. to 15,000 B.C. most of our ancestors decided that the hunter-gatherer lifestyle wasn’t all it was cracked up to be. Yet, in 2017, there are still plenty of nomadic societies that remain in the world today. And if you were to ask them about home ownership, or American real estate, they may just keep walking.
But here in the land of plenty – that would be the capital of the great state of Texas – we are a curious bunch quite interested in Austin real estate and tracing back the grand dream of home ownership right back to its very beginnings.
American real estate has a long history that commenced following the Revolutionary War. No longer under English law, the United States federal government began to grant land to private citizens to use however they wished. It was exciting times as America grew westward; the Homestead Act of 1862 gave land ownership in exchange for developing and establishing the land for at least 5 years. Three hundred million acres of public land became private property through the Homestead Act, creating the foundation for today’s real estate market.
Home ownership became more common as America grew from an agricultural-based society to an industrial one. The Industrial Revolution brought with it “urban life” as people flocked from the countryside to cities to work in factories, and our country’s wealth increased through industry. The days of banks’ lending money only to the wealthy had past, and suddenly the working class became able to secure mortgages.
And so, it began… urban sprawl created the need for suburbs. Suburbs created the need for more shopping, housing, and business. And of course, the need for American real estate transactions increased and we can expect it to continue to do so – since someone needs to develop, sell, and manage it all!
Here in Austin, Texas, the real estate sector continues to be one of the most successful and desirable markets in America. Austin realtors enjoy the opportunities that our city brings, and for motivated, hard-working, experienced realtors in Austin, this is a perfect place to call home.
Regardless of the climate of our local economy, we will always need a place to work, a store to shop, and a home to live. Thank goodness for the real estate professionals that help us find that perfect spot to call our own.
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