The real estate industry contributes to the U.S. economy in a big-league way. When the many moving parts of the real estate sector move in-sync with one another, the United State economy hums along… spinning on all wheels.
However, the real estate industry tends to be cyclical, similar to the recurrent patterns of the economy. Think about the 2008 recession; use it as a reminder as to what happens when an overheated (and unsupported) real estate price escalation takes hold.
Real estate is often the largest asset a family possesses and for many, real property is their only asset saved for retirement.
Real estate also plays a significant role in the American Dream. Real estate licensees play a large part in helping families find their American Dream property.