The stock market crash of 1929 and the Great Depression in the united states triggered a major drop in real estate value and prices and ultimately resulted in depreciation of 50% for the four years after 1929. In 1938, an modification was made to the National Housing Act and Fannie Mae, a government company, was established to serve as a secondary marketplace for mortgages and to give lenders extra money in order for new homes to be funded. In phrases of legislation, real is in relation to land property and is completely different from personal property whereas estate means the “interest” an individual has in that land property. In addition to the movie theater, a property management office, a residential real estate gross sales workplace, and a day-care facility could be demolished.
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