CHAPTER 8
HOUSING
- Types of property and how we measure house prices
- What factors influence the price of housing
- How we judge whether houses are affordable
- Why an investor might buy housing
- What impact housing has on the wider economy
- Why house price bubbles might occur
THE MARKET FOR HOUSING
Standard economics textbooks don't often contain a chapter about housing. However, the housing market can have such a substantial impact on the wider economy (and the other way round, for that matter) that it is an essential topic to cover. After all, booms and busts in the housing market have been associated with expansions and recessions in the economy ...
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