The Real Estate Encyclopedia
1999
Category - Real Estate Glossary - US Real Estate History by Year

In January, the US Department of Housing and Urban Development announces largest housing discrimination settlement ever. Columbia National Inc., a mortgage lender with offices in 28 states, agrees to make more than $6 billion in home mortgages available to minorities over five years.

In August, HomeStore.com makes an initial public offering (IPO) that generates $140 million.


The National Association of Hispanic Real Estate Professionals (NAHREP) opens.

Homeownership reaches 67% of households nationwide and existing home sales top 5 million for the first time.

 

NAR creates the RealtorŪ Electronic Commerce Network.

 

Resulting from an acquisition of MidAmerican Energy Holdings Company by Berkshire Hathaway, Warren Buffet enters real estate via a company called HomeServices. The company consolidates nine prosperous real estate companies to create the second largest real estate company in the US.

 

Congress finally completes the long-anticipated revocation of the Glass-Steagall Act, creating a furious debate on whether federally chartered financial institutions may enter the real estate industry as owners and operators of real estate firms.

 
Category(s)
Real Estate Glossary - US Real Estate History by Year
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