Description
By the end of this chapter, readers will have gained a solid foundation in real estate economics, enabling them to appreciate the critical role of real estate in the broader economy and understand the fundamental principles that drive real estate market dynamics. They should be able to:
- Understand the economic significance of real estate;
- Uncover the basic principles of supply and demand and how they apply to the real estate market;
- Gain insights into the concept of market equilibrium and how it applies to real estate;
- Explore the crucial role that prices play in allocating scarce real estate resources;
- Delve into the concept of real estate as an investment asset class.
