We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Demographics and the Housing Market - Essay Example

Comments (0)
Down the ages, housing prices of a place have been the basis of concern for all individuals. The collapse of housing prices or a shortage of houses, all affect the psyche of the consumer. However, an interesting relationship exists between the demographics and house prices…
Download full paper

Extract of sample
Demographics and the Housing Market

Download file to see previous pages... Canada has a unique pattern of land markets, wherein the markets have been rated as, "moderately unaffordable", "affordable", "seriously unaffordable" and "severely unaffordable". It has been observed that the national median multiple is slightly above the above the affordable standard.
Over the years there has been a rapid increase in housing prices. Prices and quantities in housing markets are determined by the interaction of the supply with the demand. During this time the home ownership rates have eaten up a deeper chunk of house hold wealth, thereby increasing household debt. Most important variables governing the supply of new housing include prices, the costs of construction materials and land, the cost of financing, and the value of the housing stock. Similarly, the important variables governing the quantity of housing include prices, the level of mortgage rates, expectations of permanent income or wealth, rates of return on other investments, and demographic factors that influence the decision to buy a house.
Let us take a closer look at Toronto that is well known for its multicultural society. It is situated in southern Ontario, Canada with a population of 5,113,149. It has an urbanised region of 8.1 million people. Toronto being the fifth largest city in North America is one of the most populated cities having people from diverse backgrounds. Its clean environment together with a generally high standard of living, Toronto remains the most desired destination for immigrants. It also has the second highest percentage of foreign-born population. People of different European origins form the largest ethnic group in Toronto. Afro-Caribbean, Filipinos, Latin American too, find a place for themselves in this place. This is reflected in the neighbourhood names, like Little Italy, The junction, Little India, Chinatown, Portugal Village and others similarly named.
The Downtown area of Toronto remains most densely populated while the financial district of Bay Street boasts of the maximum number of skyscrapers in Canada. The historically wealthy residential enclaves stretch northwards from downtown. It is a paradox of sorts, wherein, on one hand the up scale homes exist and on the other hand in the core vicinity of downtown low income families and incomes reside. The east and west regions of downtown however, radiate with artists and middle and upper class professionals. The inner suburbs retain the small, single family homes, while the housing boom has led to the construction of many high rise apartments in many neighbourhoods. North Toronto and some western neighbourhoods in York are some such areas. The housing boom has had a cascading effect on many municipalities. The advent of skyscrapers has not only changed their skylines but also helped them develop as secondary business centres .
However further growth in the housing market is affected by the temperament of the consumers in that whether they are prepared to take risks. If the price is high and the consumer is averse to taking risks, the purchase of houses will automatically fall. The buying strategy of a consumer therefore differs from one demographic group to another. It can be safety said thus, that consumers differ in their thought process with regards to procurement of a house. Their views may differ on the money spent to rent a house vis-a vis to purchase ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
Collapse of the Housing Market
housing market had repercussions leading to worldwide recessionary trends because of globalization. It all started when financial companies started depending too much on the innovation in the blind faith that it will yield returns. The symptoms of the malaise started emerging in the US mortgage business first.
2 Pages(500 words)Essay
The Target Market: Demographics Paper
This market is one that is using healthcare more often and they are also in need of other services. Many are living longer and much healthier lives than in the past. Both men and women are active and they are living a better lifestyle that includes exercise, good nutrition and taking better care of their health needs.
3 Pages(750 words)Essay
Housing Market in U.S
In mean time, speculators find their way in the market believing of making profits through short-term buying and selling. This drives to an increase in demand but at some point, demand decreases or stagnates with a subsequent increase in supply resulting to a sharp drop in prices (Baker, 2008).
6 Pages(1500 words)Essay
Housing Market in Australia
Many authors have conducted researches to determine which sector is dominant in housing sector as well as to identify the primary reasons behind these changes. Some of the most renowned researched covering these aspects have been presented in the subsequent part of this paper.
6 Pages(1500 words)Essay
Recent developments in the UK housing market
The author of the paper entitled "Recent developments in the UK housing market" touches upon the fact the UK economy had to face recession in the last two years which had an impact on reducing the UK house prices. It should be noted that highest growth in house prices which were significantly higher than the average UK housing prices were observed in London area.
11 Pages(2750 words)Essay
Economic analysis of the current residential housing market in Houston
Houston real estate market has been experiencing drastic shift due to higher demand for residential houses. This in turn has led to an increase in prices of residential houses because there were few suppliers while demand was substantially high. For instance, it was reported that real estate owners received numerous bids from potential buyers prior completion of a house (Bivins, paras1-4).
5 Pages(1250 words)Essay
Housing Market
Consequently, British households will benefit by a slight global warming. Because there are limited European studies conducted in this topic, comparisons are hard to find. Therefore, the results from this study can not be confirmed with certainty, or refused completely.
6 Pages(1500 words)Essay
Housing Market in the UK
The housing market in the UK continues to be dramatically supported by that of historically low interest rates, low rates of house building, steady income growth, and of course, positive demographics; as well, "In our modeling, even very large (by recent standards) macroeconomic shocks fail to create a significant downturn in the market." (Cameron et al, 2006).
6 Pages(1500 words)Essay
Housing in UK Master Essay
The housing market is known for its volatility. While supply of existing housing stock fails to meet today's expectations, current housing output is insufficient to meet demands. Also there is a need to replace outlived existing stocks. 62% of housing stock was built before 1965 and 35% of them were built before the Second World War.
7 Pages(1750 words)Essay
Mortgage and Housing Market Crises
An increase in the demand for houses led to the increase in the price in the housing market, this increase in demand also led to an increase in the demand for mortgages in the United States. As a result of the increased in prices of houses in the economy the buyers increased their demand for mortgages in order to gain from the low interest rates and also added value of the houses.
5 Pages(1250 words)Essay
Let us find you another Essay on topic Demographics and the Housing Market for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us