As a result, should customers be convinced about their financial affluence, they would be more willing to spend on own houses, invest and speculate than they would be willing to engage in any other form of expenditure.
The real estate market, specifically for houses, would be…
Download file to see previous pages...
As it is known, the interest rates in the US declined dramatically between the years 1996 and 2006. Glaeser et al. (2010) attribute this to hot money and global savings. At the same time, the price index as given by the Federal Housing Finance Agency increased by 53%. According to Taylor (2009), these low real estate interest rates propagated the drastic demand surge for property because financing for real estate became cheap and also attractive.
As delinquency and rates of foreclosure on sub-prime mortgages came down, the price of real estate enhanced real estate market demand (Taylor, 2007). With low interest rates, even those with undesirable credit history would cheaply access mortgage loans regardless of their suitability. This occurs in the belief that it could be compensated with the rapidly increasing home prices. There was an irrational enthusiasm that hyped up the housing market and caused the standards for mortgage to be compromised. Therefore, it is the low interest rates that led to the US real estate market boom which only lasted until 2007.
The sub-prime crisis together with the general economic crisis faced could be largely attributed to the housing bubble. The anticipation for increasing prices of real estate led to an environment where financial institutions and lenders loosened their standards thus risking default.
Just as the continued increase in housing prices was reinforced by increasing housing prices so was the continued dip in housing prices reinforced by the falling housing prices. This housing boom of the 2000s made sub-prime lenders appreciate the faster appreciation of lowly priced homes than the highly priced homes. After the year 2007, as the prices dipped, low-price homes had their prices dip faster. The speculators who had acquired properties through sub-prime mortgages were unable to refinance due to a dip in housing prices
...Download file to see next pagesRead More
Cite this document
(“Rewrite: residential properties Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Rewrite: residential properties Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/macro-microeconomics/1649195-rewrite-residential-properties
(Rewrite: Residential Properties Essay Example | Topics and Well Written Essays - 500 Words)
Rewrite: Residential Properties Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/macro-microeconomics/1649195-rewrite-residential-properties.
“Rewrite: Residential Properties Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/macro-microeconomics/1649195-rewrite-residential-properties.
Data mining package known as WEKA is used. Main characteristics are demonstrated in the following. J-48: J-48 as a decision tree is discussed. It depends upon the gain ratio in order to split up the attributes by using the depth-first strategy. Leaves are replaced by the sub trees through a pruning method that also reduced the over filtering.
Ed agrees that Dot can sell his house but refuses to sign a contract unless the amount of the commission is reduced. After the house is sold, Ed refuses to pay 12 percent. Dot is most likely to recover
Coverage, Inc. (CI), coordinates an insurance network that includes 1 million potential patients.
According to the paper RPM is also the professional property considered to be complete including the company’s management. The leader in business is the Residential Property Management or RPM and not a follower. The most valuable assets of RPM are their people and their staff consists the Leasing Agents as well as the Assistants, Accountants, including the Management.
In tune with these changes, the preferences of people in the selection of their dwelling units have also changed. High rise buildings and multifamily complexes in shape of apartments are coming up in almost all countries and developing countries are no
This makes the burglar look for other residential areas with poor security (Gillham, 2011, p. 43). The neighbors should work together as a team to reduce the frequency of burglaries.
Crime prevention experts recommend that the