The Hard Commodity
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. Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing. Land is something that actually makes a man rich or poor and is very essential for people to spend their lives with because without money there is nothing one can do and land has always been hard cash and something that always remains the same or increases its monetary value that’s why land is what people tend to buy as soon as they can. Thus real estate has been an all-time favorite and people tend to opt it even as a business.
Millions and billions of people deal in buying and selling of land, houses and any piece of earth as trade. In past few years the global economic crisis has indeed pushed the whole concept of buying and selling land a bit backwards which caused a drop in prices of land and for few has increased a lot which has stopped new people from buying land as it has become an unstable market commodity. The oldest document using a term recognizable as ‘real estate’ in historical records is dated 1605 and this shows how anxious man has always been in acquiring land for himself.The United States housing bubble is an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012.
On December 30, 2008 the Case-Shiller home price indexreported its largest price drop in its history.Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for thesubprime, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets.In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble “the most significant risk to their economy. Thus this whole bubble has affected the global market and has made the whole situation very unstable thus decreasing and sometimes increasing the price of land. Also the new security issues have also created an instable market which has pushed the people a little back from investing in such hard cash markets where things can change instantly.
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