Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of prices, supply, and demand. The closely related fields of housing economics is narrower in scope, concentrating on residential real estate markets as does the research of real estate trends focus on the business and structural changes impacting the industry. Both draw on partial equilibrium analysis (supply and demand), urban economics, spatial economics, extensive research, surveys and finance.
Read more about Real Estate Economics: Overview of Real Estate Markets, Demand For Housing, Supply of Housing, Adjustment Mechanism, Adjustment With Depreciation, Increase in Demand, Increase in Costs, Real Estate Financing
Famous quotes containing the words real, estate and/or economics:
“The average educated man in America has about as much knowledge of what a political idea is as he has of the principles of counterpoint. Each is a thing used in politics or music which those fellows who practise politics or music manipulate somehow. Show him one and he will deny that it is politics at all. It must be corrupt or he will not recognize it. He has only seen dried figs. He has only thought dried thoughts. A live thought or a real idea is against the rules of his mind.”
—John Jay Chapman (1862–1933)
“I ‘gin to be aweary of the sun,
And wish th’ estate o’ the world were now undone.”
—William Shakespeare (1564–1616)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)