Seminar Contribution in Economy In UK - Coursework Example

Seminar in the real estate market Coming to the UK is a wonderful experience. It is a country rich in history and iconic landmarks. The weather is also wonderful and so are the people. Perhaps UK is one of the most welcoming western countries in the world with a population so diverse that one could find all sorts of people by just walking in the downtown. I did not however come to UK just to appreciate its beauty and scenery but to study. After all, UK houses many of the best universities in the world. As a student, I am concerned about my housing. I believe that housing or the place where they would stay is a concern of all international students studying in UK. I have thought that since I will be staying in UK for a long time of about three years, it would be better if I would first acquaint myself with the real estate market before buying anything. So I chose this the topic of real estate market not only because I will be needing the things that I will learn in it in buying my own apartment but also because I am genuinely interested with the subject. I have been reading a lot that the real estate crisis started the global financial crisis and I also would like to find it out myself by choosing this topic. So I did some research. I initially carried out my research through online articles since it is very convenient to do so. Of course I am aware that relying merely in online information especially in real estate is insufficient. I also checked some trade journals pertaining to real estate and found some useful information there. And to complete my research, I attended a seminar about real estate. The seminar was fruitful because I learned a lot of things about real estate. It also made me more confident in investing or buying my own apartment in UK. In addition to learning, I also gained some wonderful friends during the seminar. It was a wonderful experience. I would like to take a seminar before buying anything because I would like to familiarize myself with the market first before buying anything. Real estate in UK is not cheap so I have to know first before shelling out any money. Just like any customer, I would also like to get a good buy and a good value for money for the apartment that I will be buying. After all, I will be using the apartment also and will not just buy it only to sell later. In the seminar, I learned that real estate properties in UK is not cheap. It is also now in the uptick since it has recovered from the last financial market where the real estate market had suffered a slump just like in the US. The housing market is now strictly regulated and it unlikely that the industry will again suffer the same crisis it experienced few years ago. I also learned that it is a good time to buy now since some of the real estate apartment are still less expensive with some experiencing a price drop last year (Lambert 2014). It is anticipated that real estate market will be have a consistent rise in the few years so the prospect for the industry is good. I believe I am going to buy one if I find a good property to buy and stay. My particular interest in the real estate market in UK is not about the real estate business itself but I am not discounting the possibility of doing a business in real estate in UK since I like it here. My particular interest in the UK real estate market is the possibility of buying my own apartment since I will be studying here for the next three years. I thought that it would be better to buy an apartment of my own instead of renting because I can sell the same apartment after I have graduated and possibly at a profit or break even. That away, I did not only save money during my study in UK but earned some money as well (although in the long run). During the seminar, I must admit that I had difficulty communicating but I contributed as much as I could. I am not a native English speaker and I must admit that speaking the language is more difficult than writing it. Writing gives me ample time to think and rephrase my words unlike conversing in it where I have to be spontaneous. It is however more insightful as I learned more things by interacting with other people than just researching and reading on my own. Although I struggled, I communicated with my fellow participants as much as I could. I also asked several questions about the price range of apartments, the trends in the real estate market and whether such crisis will happen again. Listening during the discussion is also very enlightening. It was like listening to a lecture except that the participants and the facilitator are discussing about the real estate market. I also learned how the real estate market can contribute to the economy of UK in a very significant manner. In the same manner, I also came to know that the real estate market is a very vital market that it could also negatively affect the economy of UK. I also learned how the sub-prime mortgage market in the US started the crisis in the US and eventually around the world. Reading about the sub-prime market is difficult but it becomes easy when I listened about it during the discussion. It was not really that difficult and it only started with allowing risky borrowers to do loans and then lumping together that loan with other loans until the system exploded because such loans cannot be repaid (BBC News). Bibliography 1. Lambert, S. (2014). What next for house prices: Buyers offered a chance to negotiate. Retrieved February 25, 2015, from http://www.thisismoney.co.uk/money/mortgageshome/article-1671748/House-prices-What-expect-news-predictions.html 2. The downturn in facts and figures. (2007, November 21). Retrieved February 25, 2015, from http://news.bbc.co.uk/2/hi/business/7073131.stm Five vocabulary words Slump – decline in the market Financial crisis – a situation where financial institutions no longer wanted to lend money that constricted business Housing market – interchangeable and synonymous with real estate market Sub-prime market – the market that has low credit scores and charged exorbitant interest rates Break – even – getting back my initial investment Read More