Question
Explain why housing prices vary from city to city. Clearly explain how supply and demand affect the prices of the homes and be sure to show your work.
Answers
Ms. Sue
Your <b>school subject</b> is not college. It is probably <u>economics</u>.
economyst
On the demand side, think of things that affect the demand for housing in a particular location. e.g., distance from employment centers, quality of schools, property taxes, government services, etc. Also, consider short run and long run issues.
On the supply side, think of things that affect the supply of housing in a particular location. e.g., local wage rates, access to materials, zoning laws, etc.
On the supply side, think of things that affect the supply of housing in a particular location. e.g., local wage rates, access to materials, zoning laws, etc.