Essay on "Cal Housing Market the Southern California"
Essay 3 pages (1116 words) Sources: 3 Style: MLA
[EXCERPT] . . . .
Cal Housing MarketThe Southern California housing market is mired in a prolonged slump. The average house price in Southern California declined 27% in May 2008 versus May 2007. Some experts believe that the prices will decline even further before prices are sufficiently low enough to entice buyers back into the market. There are a couple of key microeconomic factors that have contributed to this downturn on the demand side, and others on the supply side. Affecting the demand side is a reduction in cheap and easy access to credit. This access had fueled an abnormal surge in demand, contributing to rising prices which in turn fueled more demand. Also affecting demand is the increase in fuel prices, which has discourage many consumers from entering the housing market, especially in certain areas. On the supply side, the rising prices had encouraged developers to build more housing, and now this has resulted in excess housing. Also, the speculative buyers of the past few years have been attempting to sell to capture their profits. Plus, banks have foreclosed on many mortgages, and are trying to liquidate the properties quickly. These factors have increased supply just as demand was decreasing.
These two factors both impact the demand side of the economy, and there are supply-side pressures as well. In recent years, low mortgage rates and easy access to credit fueled a nationwide real estate boom. Mortgages could be had so cheaply that many people bought houses with the plan to sell them in a few years. The low rates offered at the time were not sustainable, however. As rates rose, buyers found that they were unable to meet their higher mortgage payments. In addition, this caused
download full paper ⤓
The types of shifts that would be consistent with the recent fall in housing prices are an increase in supply and a fall in demand. Prices rise when demand is high and supply is tight. For prices to fall typically the opposite will be true. I believe that the demand shift has been greater than the supply shift. The supply shift has occurred due to two main factors. The first is that speculative buyers found themselves unable to make their mortgage payments. They wanted to sell, which increased supply. If they were foreclosed upon, banks stepped in and would have put more downward pressure on prices as they were motivated sellers. The supply would also have increased as a result of construction. New home construction typically lags housing demand, thus new home projects would have started during the sharp rise in housing… READ MORE
Quoted Instructions for "Cal Housing Market the Southern California" Assignment:
My name is Yoonki Chang.
I am an international student.
I would like to get back this paper at 5:00 pm 7/24/2008.
The essay should be about 3 pages in length (800-900).
Here is the direction for this essay.
This is Microeconomics class essay.
Topic is the following sentences.
Consider recent changes in the market for owner occupied homes in Southern California as a result of changes in supply and demand. Describe some things that would cause the demand for homes to shift, or the supply to shift. What types of shifts would be consistent with the recent fall in average home prices? Do you think demand or supply shifts have been greater in size (think of how each shift will affect the quantity bought and sold). How might expectations of future home prices shift either demand or supply?
Topic for essay is above sentences.
You should include all of this sentences for five-paragraph essay.
Professor requires five-paragraph essay which includes Introductory Paragraph, First Body Paragraph, Second Body Paragraph, Third Body Paragraph and Concluding Paragraph.
You can check the following website:
An example of the five paragraph essay: http://www.gc.maricopa.edu/English/essay/
http://www.csupomona.edu/~uwc/student/Journey5cp.shtml
Also, you should consider that "I am international student."
Please don't use difficult words and grammar. Please, send me the paper as soon as possible because it is due 7/24/2008 at 7:00pm. Please, think about written conventions (grammar, spelling, punctuation, apitalization),
word choice (efficiency, clarity, and variety of words),
sentence fluency (correction of awkward phrases, run-on sentences), overall organization (paragraph and essay structure).
p.s : Please don't use difficult words and grammar. *****
How to Reference "Cal Housing Market the Southern California" Essay in a Bibliography
“Cal Housing Market the Southern California.” A1-TermPaper.com, 2008, https://www.a1-termpaper.com/topics/essay/cal-housing-market-southern/798479. Accessed 5 Oct 2024.
Related Essays:
Underground Raves in Southern California Ethnographic Paper Research Paper
Underground Raves in Southern California
Ethnographic Paper On Underground Raves
Raving has become an increasingly fashionable form of recreation for the youth in the United States. California is not left… read more
Research Paper 10 pages (3307 words) Sources: 10 Topic: Drugs / Alcohol / Tobacco
California Water System Term Paper
Southern California Water System
Turn on the tap and fill a glass with water. It's a simple act that most people in developed areas of the world take for granted.… read more
Term Paper 4 pages (1109 words) Sources: 1+ Topic: Geography / Geology
Housing Production and Costs in North Virginia Term Paper
Housing: Production and Costs Survey
Housing market three years ago the housing market overview looked quite positive in North Carolina in the early 2000. According to 2000 Census, home ownership… read more
Term Paper 6 pages (1595 words) Sources: 7 Topic: Urban Studies / City Planning / Housing
California Grocery Worker Potential Strikes Term Paper
California Grocery Workers Strike
The Year 2003 witnessed some dramatic events across California with more than 65,000 employees of the major grocery supermarkets, (Albertsons, Ralphs (Kroger) and Vons and pavilions… read more
Term Paper 3 pages (918 words) Sources: 8 Style: APA Topic: Healthcare / Health / Obamacare
California Medflies Essay
California Medflies
The Medfly Problem: General Overview
How to combat the problem posed by the medfly to agriculture and international trade? While the California agricultural industry looks eagerly towards the… read more
Essay 5 pages (1630 words) Sources: 1 Style: MLA Topic: Agriculture / Food / Culinary
Sat, Oct 5, 2024
If you don't see the paper you need, we will write it for you!
We can write a new, 100% unique paper!