We all know what real estate refers to, but do you know where the phrase “real estate” actually came from?
Well, way back during a time when only kings and queens could own land, the term “royal estate” was used to refer to their property. Eventually, this privilege was extended to others of high societal standing, like knights, and the term evolved to reflect this change. So, “royal estate” became “regal estate.”
But as time went on, the merchant class became more powerful and what we now know as “real estate” was eventually democratized. This made it so that more and more people were able to own property than ever before.
"The fundamental right to own property is a founding principle of any democracy, and this is how we’ve arrived to where we are today."
Within America’s own history, the right to own property was deemed so essential to our foundation that before our three unalienable rights were revised in the constitution to be “Life, Liberty, and the Pursuit of Happiness,” they were “Life, Liberty, and the Pursuit of Property.”
The fundamental right to own property is a founding principle of any democracy, and this is how we’ve arrived to where we are today. Our current real estate market is the product of history, and we’ve certainly come a long way.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.