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Filice_A_HomeEconomy_7 - thought An example of marginal...

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Anthony Filice October 28, 2011 XECO 212 Yvonne Shivers CheckPoint: New House – Economy An economic downturn, like the one the United States is currently in, is not a situation the turns the average person on to buying a house. With so much uncertainty about jobs and making mortgage payments, a lot of people get scared, even if real estate prices are at rock bottom prices. Marginal benefits can refer to an additional feeling of gratitude one person gets from buying a home, or in this case, the extra amount of money that a person is willing to spend to get what they want. The added costs could be to get a nicer home at a low price instead of an average home at an even lower price. Marginal costs could refer to the same thing, but uses a different train of
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Unformatted text preview: thought. An example of marginal costs would be looking at buying a house that is under 50 dollars per square foot, if you find a house that is even better for 55 dollars per square foot; the five extra dollars would be the marginal cost. Removal of the tax reduction of mortgage interest raises overall taxes on a home purchases, limiting people to buying houses in a lower price range and tax bracket. Government spending would also affect my decision because the more they spend, the more they take from taxes and the higher the interest rates go, plain and simple. I am one of the rare people actually looking to purchase a home for my family, and have done plenty of research that has made me decide on a certain budget and home worth....
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