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There could be seen different changes in the prices of homes throughout the country and condos were hit lowest comparing to single -family homes.
The article gives here an insight about the housing market condition during the year of 2010.The article is very precise and gives a very brief idea about the housing market. The article takes the readers straight away into the market scenario and doest not give much introduction about the topic. It would be very efficient to commence the article with description bit more about the subject in order to attract the readers and create an impact in the minds of the reader. Every article needs an introduction as it is the point where the readers get involved in the reading and continue to remain with the article.
The readers must be given more information about the reason for fall in the prices of house. Little more details about the market scenario and the buyer’s behavior could have added some depth to the article. The good part of the writing was that the author has given more statistical details which are very beneficial on economic basis. But if the readers are common men they would look in for more simple explanation about the subject. Another shortcoming of the writing is that there is no conclusion to the article .It ends nowhere and this gives a very poor outlook to the article.
The first thing to be done to the article if it is to be given a make over is to write a good introduction. Introduction can be about the housing market and the situation it was in during the previous years. The writing should be a proper one with an introduction a small body and conclusion, only then the article can be regarded complete. The purpose of the article is to give information to the reader about the topic and only a whole article can fulfill this purpose.
The body of the article needs to be about the housing sector sales activity and also about the buyers spending behavior. The home income level of the people can also be
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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.
For example in the UK, the base rate (repo rate) is set by the Monetary Policy Committee and the Bank of England while in the United States; the Federal Reserve sets the same Interest rates are set up after looking into several macroeconomic perspectives that affects the economy of a country.
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).
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.
The theory states that the real estate market development usually lags behind and follows overall economic development in the region where growing GDP which is also reflected in the growing real income per capita, stable inflation rates, lower risks associated with better economic outlook for the country development and thus lower mortgage rates offered by the banks will be reflected by growing demand for housing1 which will lead in the short run to the upward pressure on housing prices.
has finally dawned this fact upon us that housing prices are no longer the stable base which they were once perceived to be. The current global recession which is being suffered be the economies all around the world has to be attributed to the extremely volatile housing market, even though the rather callous and risk sensitive attitude of investors has not helped matters much.
Emphasis is placed on the period leading up to and immediately following the 1991-1992 economic recession, conducted by the Standard & Poor's.
A very recent report, however, by ABC News, in its website ABC News Online dated May 14, 2007 (2:33pm AEST), states a reversal of the stable market.
However, the cyclicality of housing prices is a very complex and often difficult economic problem to deal with because housing prices cycles are not symmetric i.e. they show different cyclical patterns every time.(Geffner, 2008). However,
institutions have warped or been bought out and government administration in the rich nations had to approach with release packages to bail out their fiscal systems. A fall down of the US sub-major mortgage market and the turnaround of the housing boom in further developed
lity, they basically refer to that portion of houses on sale that are affordable to those people earning a median income in the region (Brueckner 2001). There is no doubt that both these two measures are essential, however if housing is unaffordable or beyond the reach of that
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