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Paper Topic:

supply & demand housing market

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Supply and Demand of Housing

Much of the analysis of housing demand and supply can be subsumed under real-estate economics . The housing market determines the equilibrium supply and demand for using . In recent years , the demand for housing in the United States declined by about 7 . The general cause is up to this day , undetermined however , it is widely accepted by economists that the decline was due to decrease in alienable land available to population centers

The main determinants of the demand for

housing are demographic in nature . Some of the important demographic variables are as follows : 1 population growth , 2 ) population density , 3 ) male to female ratio (sex ratio , 4 ) educational attainment , 5 ) class , and 6 ) mortality rates Other non-demographic variables like income , cost and availability of credit , consumer preferences , prices of substitutes and complements , and the general price of housing also play important roles in assessing the demand for housing . The general dependent variable , in this case , is the available housing units provided by the market

The supply for housing is determined by variables like land , labor , and other inputs . The cost of the above-mentioned inputs , the stock price of housing units , and the level of technology generally determine the quantity of housing units that real-estate firms supply to the market The pubic sector is also active in dispensing housing units to private individuals . Government expenses for real-estate development are however , greater by 3 compared to real-estate firms

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