The Importance of Real Estate

What is Real Estate and how does it have an impact on our economy?

Here are some kids describing what they think Real Estate is... unique definitions.

Although this video shows how children and what some people around the country think real estate is defined as, it does not grasp the whole meaning.  Real Estate's actual definition is land and anything reasonably affixed to the land. This may include commercial buildings, hotels, single family homes, apartments, industrial buildings, plots of land, and many other property types, not just family homes.

Real Estate has a huge impact on our economy.  It makes up a majority of wealth in the United States. Individuals and families need a place to live, whether they own their home or they are renting.  If they own the home, they most likely will have a mortgage, which is a huge sector in the economy, and if they are renting they are sending income to the owners of the place they are staying. This also works for businesses owning or renting out office space.

My sister and I own the townhouse that we are living in currently and we are renting out the two extra rooms in the house.  The rent that we have coming in easily covers the bills for the house, so we have a steady income coming in.  In the near future we plan on investing this money in another piece of rental property which will increase our income as well.  We are very fortunate to be on the investing side of real estate, but there are many other sectors to it, such as, appraisal, consulting, development, and brokerage. This Master's of Real Estate page at Texas A&M University, which I am thinking about pursuing, lists many different opportunities and placements throughout the Real Estate market. Career Options & Placement at Tamu