Housing Market Economics - Outline.docx - Outline Housing...

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Outline Housing Market Economics Introduction In the United States and most of the countries across the world, housing is a very crucial aspect and such an important industry in the economy. Apart from being one of the basic needs of human beings along with food, clothing, and water it employs a large number of people as well as contributing to a good percentage of the GDP value. Problem Statement In the United States, for many years there has been an improvement in the housing sector, but not everything has gotten better, there is a tremendous housing problem the country is facing today. One of the major issue that as a country we have not been able to successfully deal with the issue of affordability in housing markets. Law of Supply and Demand and How it Influences Housing Market One of the economic basic principle it is the law of supply and demand, which explains the relationship that exists between the demands and supply for any service or good and how the entire interaction influences or impacts the price of that service as well as the good.
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