Realtor Income Exploration: Crowdsourced Funding for Agent Fees

Introduction:

Two new territories were created in 1805. That was a sign of how quickly the country was expanding. The United States was a country that was brimming with energy, and it could no longer be contained within its borders. It was seeking growth. For this Realty Time Capsule, we will be going through the events that happened in 1806. 

Three Key Points  

1. National Road Construction Authorized: 1806 would mark the first major development in roads for the United States. On March 29 of that year, the United States Congress authorized the construction of the National Road which would become the first federal highway. Construction would not begin immediately, but its authorization was a major step.  

 There were no major roads connecting the various states and cities back then. Paths for horses, carriages, and travelers on foot were all that was available. The distances were multiplied by the difficulties of the road. 

 2. Pike Expedition Starts: The Pike Expedition sets out on a mission to explore the southern and western portions of the Louisiana Purchase. Like the Lewis and Clark Expedition, it was also the brainchild of President Thomas Jefferson. The expedition was headed by Lieutenant Zebulon Pike, Jr., who was later promoted during the trip to Captain.  

The expedition was the initial effort of the Americans to explore the Rocky Mountains and the Great Plains. The expedition came across several Native American tribes, and they told them about the American claim to their lands. The expedition would be lost and end up in Spanish territory, which would cause them to be detained. Some of Pike’s men would end up spending years in Spanish prisons. 

 3. Lewis and Clark Expedition Ends: The Lewis and Clark Expedition, widely regarded as the most successful expedition in the history of the United States, came to an end on September 23, 1806, when it reached St. Louis. The expedition achieved its goal of reaching the Pacific Ocean and establishing a route. They also mapped out the route through the new territory which established the United States’ claim to those new lands. 

They were able to gather information about the plants and animals living in the purchase. More importantly, the expedition paved the way for others to follow. Trappers, mountain men, settlers, and other explorers used the information that was gathered by the Lewis and Clark expedition when they ventured out. 

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 Headline Real Estate News Stories in 1806 

 The end of the Lewis and Clark Expedition was the biggest headliner for 1806. When the expedition ended, President Jefferson gave an address to Congress about the success of the expedition and why they had to spend the money that was budgeted for it.  

 The expedition would pave the way for settlers to come and make the new land their own. Although it was a gradual process. 

 What Historic Real Estate Events Shaped 1806?  

The Louisiana Purchase Expedition is still the main historical event affecting things that occurred in 1806. Both the Lewis and Clark and the Pike expeditions explored the lands acquired through the purchase. The Purchase in turn was the result of France giving up on its aspirations of building a North American empire and the United States desiring to expand its reach into the continent. 

Economic Factors, Supply, and Demand  

The new lands that have been acquired were very promising. They gave a lot of hope for the economic prospects of the country since the reports from the Lewis and Clark Expedition showed that they could be very productive. However, it would be years before the economic benefits brought about by the new lands could be felt, except for the advantages that the city of New Orleans gave. The result of that acquisition of the river port was immediate because it enhanced the river shipping of the United States. 

Government Policies and Interventions  

The authorization of the National Road construction was the main government policy and intervention that influenced the country’s real estate market. The ease of travel facilitated by road construction would allow more lands to be settled. More people would become willing to move out to those lands with the construction of the road. 

Demographic Factors  

Just like with the Lewis and Clark Expedition, the Pike Expedition encountered more Native American tribes that had been unknown to Americans or the French before. This indicates the country’s population was bigger than what was measured during the census. 

Societal Preferences and Trends 

Although the country was expanding and the economy was getting bigger and bigger, most Americans still preferred to live in small farms instead of bigger cities. The biggest city back then was New York, which had a population of around 60,000. That societal preference to live in rural areas would remain in place for a long time. 

Transportation and Infrastructure    

1806 was such a big year for transportation in the United States. With the authorization of the construction of the National Road, the foundation for the future interconnectedness and the country. Also known as the Cumberland Road, the National Road was the first improved highway built by the federal government. It connected the Potomac and the Ohio rivers and would serve as a major road through which many settlers would pass on their way to the West. It was also the second road to be surfaced using the macadam process.

1806 was a year full of promises for the United States. One expedition ended while another just started. These expeditions would inspire others to seek new fortunes in the new lands. For our next Realty Time Capsule, we will be taking a closer look at the year 1807 and what it brings to the United States and its real estate industry.

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For a deeper understanding and look into these topics check out these titles:

The Pike Expedition:

The Lewis and Clark Expedition