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Essay / Research Paper Abstract
This 5-page paper discusses the economics when it comes to purchasing a house. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: AS43_MThsebuyin.rtf
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DECISION TO PURCHASE A HOUSE Research Compiled by 6/2010 Please
In this paper, weve been asked to outline parameters when it comes to the decision-making process of buying a house. Though buying
a house has been considered the "American dream," there are a fair number of decision factors that go into this process, not the least of which involves economics, the strength
of the economy. Furthermore, were assuming that the decision to purchase a house will require a substantial financial outlay in which the wrong decision has long-term financial consequences. Principles of
economics relating to the decision There are a couple of economic principles relating to this decision. One of these is supply and demand,
the other is the supply of money. The first is controlled by the market, while the second is controlled by the Federal Reserve. As a note, while there are more
economic principles we could discuss (such as opportunity costs), well restrict the discussion to these two basic principles. The issue of supply and
demand is pretty basic; if there is a lot of supply on the market and demand is low, the cost of buying the house will also be low. But if
there is a huge demand for homes in a particular area, the prices will be higher. Many home sellers these days are seeing this in action; because there is not
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