A PYMNTS Company

Antitrust and Real Estate: A Two-Sided Approach

By  |  April 19, 2007
Antitrust and Real Estate: A Two-Sided Approach

Thomas Brown, Kevin L. Yingling, Apr 19, 2007

When John Jacob Astor died in 1848, he was the wealthiest man in the United States. Like so many people since, Mr. Astor made his fortune speculating on real estate, specifically undeveloped land on the fringe of the city then growing on the island of Manhattan. Mr. Astor did not start out in the industry. He turned to it only after a shift in fashion diminished the prospects for his fur trading business. On his deathbed, his only regret was that he had not bought more. Over the last decade, Americans have taken Mr. Astor´s regret to heart. From 1996 to 2005, the residential real estate industry witnessed the greatest run-up in prices ever seen. In 2005, sales of existing homes hit an all-time high of 7 million units. This should have been the best of times for people in the business of buying and selling houses, but to hear most residential real estate agents tell it, the boom passed them by.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Links to Full Content