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Condensed Chapter 2 Slides

Condensed Chapter 2 Slides - Chapter 2 What drives Real...

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Chapter 2 What drives Real Estate Markets? “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
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Major Topics Real Estate economic and market terms How Real Estate markets differ from other asset markets How capital markets influence space markets Short term and longer-term real estate demand drivers Key demand and supply drivers by property type Sources of data for market analysis “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
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Key Terms Price Rent ‘Subject’ property Submarket Space Segmentation “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner
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Macro factors: Global influences National influences Micro factors Local submarket “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Influences upon Rent & Prices
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Rents and Prices: Real Estate Demand Curve “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Quantity or Space Price or Rent As Price Decreases, Quantity Demanded Increases & vice versa
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Short Run & Long Run Supply Curves “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Quantity or Space Price or Rent Short Run Supply Curve Long Run Supply Curve Long Run Supply Curve is more Elastic
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Kinked Supply Curve “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Quantity or Space Price or Rent Supply is added when Price is above P e P e
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