All of us know the meaning of real estate. It is, in fact, a legal term that is used to describe land with something permanently affixed to it, like a building. It is a tangible asset and is one of the most sought around the world. As humans, we consider food, clothing and housing as our most basic needs. Among these three, housing is probably considered the most cherished although if there is one among these three without which we cannot survive is food.

The earliest humans started to live in caves. As human civilization progressed by leaps and bounds, caves gave way to huts. With more and more inventions coming up every now and then, the huts gave way to houses. The houses then got clustered to form villages, towns and cities. As more people started flocking to the cities, the question of adequate housing came up. Land was acquired and buildings started getting built on the land. As humans used more science, the buildings started heading skyward. As a result, we now have skyscrapers that house thousands of apartments and offices. Humans as a race never stop inventing and real estates moved from land to water. In an effort to support a burgeoning population, humans started using as much of the earth as possible so that people could find a shelter over their heads.

Real estates come in every shape and size. You have those modest one bedroom apartments that are ideally suited for bachelors to the 2-3 bedroom ones for families. As people invest more, the size of the real estate also goes up. The rich and the famous opt for penthouses, condominiums and mansions because status and not money is their concern. The bigger the home bigger is the status of a person in the society.

All of us dream of a house of our own. Many of us stay in rented houses but can never call it our own. What we want is a place that belongs to us completely. This need of us saw real estate prices skyrocket in the past decade and go beyond the means of a normal salaried person. We resorted to mortgages and the banks went on a spree to offer us money to buy homes. And then, one fine day, it all crashed. People could not afford to pay mortgages and the real estate prices plummeted. Along with it came recession. We are still recovering from the current recession that has hit us post the 1930s. Now that the economy is recovering, real estate prices are also slowly taking an upward trend. Now is the time to invest.

Real estate is everyone’s dream. We try and do as much as we can so that we have a home to call our own. As long as human civilization will continue to exist, this dream will never go away and we will always try to buy our own home. From small apartments to mansions, there will never be a complete stop to buying activity as far as real estate is concerned.