The Federal Reserve Bank is created.

The National Association of Real Estate Exchanges adopts the first Code of Ethics for real estate practitioners.

The current income tax system is established by Congress under the Revenue Act of 1913, which includes provisions for the home mortgage interest deduction.

The Federal Reserve System is established to create control and bring better stability to the nation’s banking system.

Albert E. LePage begins Royal LePage what is to become Canada’s largest home-grown real estate company.