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Essay / Research Paper Abstract
A 7 page paper. Is there a real estate bubble or not? If there is a bubble, will it burst? This essay suggests what is happening is more aptly called the cycles of real estate. These two questions are discussed. The writer also discusses the effect of today's real estate market on the economy in the short-term and the long-term and the economic principles that apply to this market. Bibliography lists 6 sources.
Page Count:
7 pages (~225 words per page)
File: MM12_PGrlsteb.rtf
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Unformatted sample text from the term paper:
the bubble is going to burst, others say it isnt. Nepht (2005), for example, says there is no real estate bubble. The real estate market is cyclical, it has
waves, i.e., ups and downs, and right now the market is a big wave (Nepht, 2005). Real estate, like the stock market, has good years when values rise and better
years when values rise even more (Nepht, 2005). Historically, real estate has more up cycles and these cycles are always followed by a downturn in the market (Nepht, 2005). Therefore,
this boom may slow down at some point (Droke, 2005). Real estate will always grow because people need someplace to live (Nepht, 2005). That makes housing a basic need
and thats why it will always grow (Nepht, 2005). Its just a matter of how fast it grows in any given year (Nepht, 2005). Bronchick (2006) also disputes the term
real estate bubble and the notion that it will burst. It is not a national market (Bronchick, 2006). The stock market by contrast, is based on the national economy, in
fact, it is based on the world economy (Bronchick, 2006). On October 19, 1987, the stock market lost 22 percent of its value in one day, it crashed (Bronchick, 2006).
The real estate market will never crash like that, it has never lost an across-the-board large loss, like 22 percent, in a day or even a month (Bronchick, 2006). When
the real estate market bottomed out in the late 1980s, for instance, it took years to do that (Bronchick, 2006). The real estate market is a very local market (Nepht,
2005; Bronchick, 2006). Thus, this market is actually based on the microeconomy of the region (Bronchick, 2006). In fact, it gets right down to a neighborhood within a city, some
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