How Does Real Estate Affect the US Economy Assignment

How Does substantial Estate Affect the US Economy - Assignment ExampleIt might be concerning to billet that many sources define real the three estates as land and everything made permanently a detonate thereof, and the nature and extent of ones interest therein (Real Estate 2007). It is important to remember that the land may non be worth very much in and of itself. It is invaluable because of the interest it holds for the owner. Perhaps the land is valuable because of its position in relation to something else. Or it could be valuable because of what lies underneath the soil such as oil, minerals, or even archeological treasures. Or perhaps valuable things reside on its surfaces such as timber, animals, or historical sites. Or it could simply be that the most valuable asset of land is what it washbasin be used for. It then becomes clear that the true purpose of real estate is to create a situation in which the land is developed so it is being used to appropriately further th e interest of its owner.According to a brief review of real estate in Wikipedia (Real Estate 2008) real estate covers every step in the process of acquiring or disposing of land. When an individual wishes to find a extra property she may consult a real estate brokerage in hopes of either buy property or investing in the property.Some individuals wish to retain ownership of their property for a variety of reasons but may wholeow others to use it. They may rent out the buildings or founder permission for the land to be farmed or for a profit-generating structure to be built on it. In cases where the primary purpose of a property is to make a profit those involved move into the field of force of commercial real estate. Commercial real estate can involve the building of a hospital, lay garage, shopping mall, and in some cases (especially for tax and loan purposes) residential structures which will house a precise number of people (Real Estate 2008).Keeping in mind that real estat e includes the buildings as hale as the land such individuals may require assistance in keeping up with all the things required of the myriad options and transactions required in dealing with property. Real estate has taken this into note and created yet another subfield called property management that devotes its time and resources to exactly this sort of arrangement. Property management tends to be a highly sought real estate service especially among those individuals who own several properties that ar rented out and for commercial properties (Real Estate 2008).