APNI MLS Blog

THE IMPORTANCE OF REAL ESTATE

THE IMPORTANCE OF REAL ESTATE

 

Land ownership is of paramount economic, social and political importance in any society. A real estate purchase is a significant lifestyle decision that typically constitutes the largest single component of most people’s personal wealth. From a business perspective, corporate acquisitions reach into the billions, as companies acquire large retail commercial and industrial facilities, utilities consume countless miles of rights-of-way, farming involves thousands of hectares of agricultural land, and residential developers routinely construct thousands of homes annually. Real estate is also integral to social and political order. Common law enshrines real property ownership rights, while federal and provincial statutes reaffirm and regulate such rights. Owners of real property enjoy advantages over the non-owner; e.g., credit is often more freely granted to those who own their own property. Most important of all, shelter is a necessity for everyone. How real estate is developed and what shape new communities take directly affects the very fabric of society and themquality of life enjoyed. Within these dynamics, registrants prudently go about their business. Few things happen without real estate. Little wonder that many seek the opportunity to guide others in its purchase and sale. Real estate is big business worldwide. New and existing housing units are needed to accommodate the expanding population. Projected strong job creation, output forecasts and rising incomes indicate the growth will continue with real estate as a significant factor within that expansion. Clearly, a robust, active market exists for anyone willing to work toward a successful real estate career.