• John Frezza

25 Interesting Facts About Real Estate

1. Calling All Apartment Developers

There is a projected demand for 4.6 million new apartments between now and 2030. This demand will create more than 100,000 jobs. Real estate developers can capitalize on this demand with government incentives like LIHTC's, TIF's, and TIRZ zones

2. Real Estate Investment Trusts Outperform the S&P 500

REITs own more than $3 trillion in real estate assets and have outperformed the S&P 500 over the past 20 and 30 year periods. There are real estate investment trust's specializing in everything from apartments and office buildings to medical buildings and data centers.

3. The "Hollywood" Sign was a Campaign for Real Estate Development

The Hollywood sign, synonymous with glitz and glamor, is one of the world’s most recognizable images. The sign itself and meaning have changed through the years. However, in 1923 when the “Hollywoodland” sign was erected, it was actually an ad campaign for real estate development. The LA Times reported in June of 1923 that the real estate development effort employed over 200 men with an estimated 300,000 cubic yards of dirt moved to make way for new homes in the Hollywood Hills.

4. 9.6 Million Households Own 1 or more Timeshare

9.6 million U.S households own 1 or more timeshare.

5. 430,000 Construction Workers are Needed

Based on 2021 data, 430,000 additional Construction Workers are needed to meet current demand while 1,000,000 MORE will be needed over the next 2 years.

6. Buy a Home with a Paperclip

As home prices across the US sore, just imagine buying a home with a paperclip, yes, a paperclip! Kyle McDonald, a Canadian blogger, did just that after making 14 trades over 12 months on his way to a whole house! Kyle’s stellar and ingenious bargaining skills earned him worldwide notoriety in addition to the house in Saskatchewan.

7. Commercial Real Estate is Financed with $3 Trillion in Debt

Commercial real estate is financed with more than $3 trillion in mortgage debt.

8. The United States has Perfected Land Acquisition

In 1876, the United States paid Russia $7.2 million for 375 million acres, or what we now know as Alaska. That breaks down to just $52.08 per acre! Even in today’s market, that was a steal considering the wealth of oil deposits discovered in recent decades.

9. Pay Off Your Mortgage and Paint Your Door Red

Paying off a home mortgage is a celebratory feat in any country around the world. However, homeowners in Scotland celebrate uniquely; by painting their doors red. So, if you are lucky enough to travel to Edinburgh, be on the lookout for the hardworking owners who achieved this goal!

10. Architecture is a $1 Trillion Dollar Sector of the Economy

Architecture is a $1 trillion sector that accounts for almost 6 percent of the economy.

11. Spooky Real Estate

(The dilapidated Carleton Island Villa, located on an island in the St. Lawrence River, is rumored to be haunted by typewriter magnate William Wyckoff and his family, who suffered tragic, untimely deaths.)

Some haunted locations draw people in while simultaneously sending others running for the hills. That said, if you are selling a haunted home in New York State, be prepared to sign a separate disclosure statement. In what has become known as the “Ghostbuster Ruling,” this NY Supreme Court decision in the case of Stambovsky v. Ackley compels sellers of real property to disclosure if they believe the property is haunted. Spooky!

12. Hidden Eiffel Tower Apartment

Few places boast romantic allure like Paris, France. Yet, how many of the millions of visitors to the Eiffel Tower realize it was once someone’s home? The treasured landmark designer, Gustov Eiffel, actually built and maintained ownership of a secret apartment in the tower. Over the years, many notable people offered Gustov thousands to spend just one night there, which he refused. Instead, only invited guests, such as Nikola Tesla, got the inside tour. Now the not-so-secret hideaway is open for public tours.

13. Breaking Bad and Real Estate

In a quiet neighborhood in Albuquerque, NM, is the iconic home from AMC’s hit show Breaking Bad. In one scene, the character Walter White tosses a pizza onto the roof. Apparently, fans often recreate this on the actual home, much to the current owners’ dismay. In 2015 they told NPR, “We’ve removed close to 200 pizzas from our property in the last year and a half.

14. The White House is Valued at Roughly $110,000,000

The white house is valued at roughly $110,000,000

15. Homeless Population "Problem"

In the United States, there are 5 times as many vacant houses as there are homeless people.

16. Arnold Schwarzenegger is Real Estate Mogul

Actor and former governor of California, Arnold Schwarzenegger is known for many things, but the landlord does not usually come to mind. Arnold put his business and economics studies to good use by investing his bodybuilding winnings in multi-family buildings near Madison, WI. So, by the time he graduated from the University of Wisconsin, he was already a millionaire. Imagine having the Kindergarten Cop as your landlord, pretty cool.

17. Tallest Building in the World

In 2004, construction began on the Burj Khalifa in Dubai. Towering 2,722 feet above the streets below, the Burj Khalifa holds a combination of business offices, private residences, and hotel accommodations. That said, lucky and quick visitors can take advantage of more than just the beautiful views from the two observation decks. This is a rare place where you can see the sunset twice! Once from the ground, and after a quick trip to the top, watch it slip over the horizon one more time!

18. McDonald's is a Real Estate Company

McDonald's is actually a real estate company.

19. Impact Crater Real Estate

There is a Bavarian town called Nordlingen that was built on top of a 14-million year old meteor impact crater.

20. A Gangster with Good Intentions?

Charles "Pretty Boy" Floyd was a great depression era gangster viewed positively by the public. He was known for destroying mortgage documents when he robbed banks which freed many citizens of their debts.

21. Develop Apartments in 15 Days

Using prefabricated modules, some builders in China are able to build 30-story skyscrappers in as little as 15 days.

22. The Richest Man in India Built a $1 Billion Home

India's richest person built a $1 Billion home. It has 27 habitable floors including 6 parking floors for capacity of up to 168 cars.

23. More Foreclosures Than Marriages

In 2009 there were more foreclosures in the United States than there were marriages.

24. Roughly 44% of Homebuyers Use the Internet First

Approximately 44% of buyers use the internet first when they start looking for houses.

25. Only 8% of Homeowners Regret Buying

Only 8% of homeowners regret buying a home instead of just renting.