A home is more than a place to live. It is an integral part of the American story.
As America marks 250 years since the Declaration of Independence, homeownership remains one of the clearest ways people experience the promise of opportunity. Let’s take a moment to reflect on the history of homeownership, and how it has changed over the last 250 years.
From 1890 to 1930, the U.S. homeownership rate stayed around 50%. Mortgages at the time were often difficult to manage, with significant down payments, short payment terms, and limited repayment flexibility.
Then the system began to change. The Federal Housing Administration was created in 1934, Fannie Mae launched in 1938, and the G.I. Bill followed in 1944. These milestones helped make long-term home financing more available. As a result, between 1940 and 1960, the U.S. homeownership rate rose from 43.6% to 61.9%. That growth did not happen by accident. It was built on systems that help people buy, sell, finance, and protect property with confidence.
The Birth of Title Insurance
At the same time, every home has a unique history. Long before a buyer gets the keys, that property may have been sold, inherited, refinanced, improved, or passed from one generation to the next. Each step of that journey creates a record, and those records help show who owns the property and how ownership changed over time.
In the United States, real estate is transferred between private parties. Local governments record property documents, but they do not verify every detail before accepting them. That makes the work behind the transaction especially important. Someone has to review the records, connect the history, and help create confidence that the transfer of ownership can move forward.
That is where title insurance and settlement professionals come in. Title insurance grew in the late 1800s as a way to bring greater certainty around private property ownership. Instead of relying only on a legal opinion, buyers and lenders in a real estate transaction sought to gain added confidence in their ownership rights through title review and insurance protection.
First American has been part of that story since 1889. Originally founded in Southern California, Orange County Title Company would eventually become First American Title, and begin a 135-year journey of helping safeguard property ownership across the country.
As America looks back on 250 years, we’re also looking ahead. Behind every front door is a record of ownership, a promise of possibility, and a system built on trust.
Explore more stories and history behind property ownership's role in shaping our nation at: firstam.com/america250.
