COLLEGE STATION – According to the U.S. Census, there were 2,498 actively engaged in the real estate business in Texas in 1900. As the 1970s began, more than 100,000 Texans held a real estate license.
In 1971, American household budgets were influenced by:
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new U.S. homes selling for an average of $23,900;
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gasoline priced at 40 cents a gallon;
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an average income of $10,600 annually; and
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8-cent, first-class stamps.
Meanwhile, news headlines focused on Apollo 14 landing on the moon, the voting age being lowered to 18, Walt Disney World opening in Florida, and cigarette ads being banned from television
While it did not make the front page, Texas Gov. Preston Smith signed Senate Bill 338 into law on May 18, 1971, creating the Texas Real Estate Research Center.
In the decades that followed, the Center has exceeded the dreams of its founders, including visionary Texas real estate broker and noted Realtor Julio Laguarta. More than 2,300 Center technical reports, articles, white papers, video programs, books, and other media have helped Texans make better real estate decisions. Key staffers are booked for speeches nationwide as much as a year in advance.
Interest in Center research has never been greater. The national media has discovered what Texans already knew: The Center is a valuable resource for information and data on a state that has weathered economic storms better than most.
While a lot has changed since 1971, our mission has not. We continue to help Texas make the best real estate decisions.
The Texas Real Estate Research Center has a wealth of economic information online for free.