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KVann_Week 01 Course Paper - Industry Selection_010811

KVann_Week 01 Course Paper - Industry Selection_010811 -...

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The Housing Industry 1 The housing industry I feel has several factors which affect the supply. One of these factors would be the employment costs such as wages, overtime payments and employer national insurance contributions, medical benefits, etc. With the rising cost of employment it is beginning to become difficult for employers to continue to raise funds to higher on new workers. Minimum wage continues to rise, therefore the price of overtime rises as well. The cost of medical plans and benefits continues to increase which in turn causes more money to be taken away from production and put towards protecting the employee. The second factor that I feel affects the supply in the housing market would be the costs of purchasing building components and the raw materials needed to complete each project. As our country is moving towards eco-friendly markets, products for said markets are gaining increasingly expensive materials. As the prices for housing continue to rise so will the prices of the overall house. This is a
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