Which option best identifies why the sequential development of the boom-and-bust cycle in the Texas real estate industry occurs?(1 point) Responses Real estate is connected to the greater economy. When the economy is booming, people can afford to purchase real estate. When it busts, many people stop purchasing. Real estate is connected to the greater economy. When the economy is booming, people can afford to purchase real estate. When it busts, many people stop purchasing. Real estate is connected to the cotton industry. When cotton is booming, most people can afford to purchase real estate. When it busts, many people stop purchasing. Real estate is connected to the cotton industry. When cotton is booming, most people can afford to purchase real estate. When it busts, many people stop purchasing. Real estate is connected to the oil industry. When oil is booming, most people can afford to purchase real estate. When it busts, many people stop purchasing. Real estate is connected to the oil industry. When oil is booming, most people can afford to purchase real estate. When it busts, many people stop purchasing. Real estate is connected to the greater economy. When the economy is busting, many people can afford to purchase real estate. When it booms, many people stop purchasing.
1 answer
The option that best identifies why the sequential development of the boom-and-bust cycle in the Texas real estate industry occurs is:
"Real estate is connected to the greater economy. When the economy is booming, people can afford to purchase real estate. When it busts, many people stop purchasing."
This response accurately captures the relationship between the economy and the real estate market, explaining how economic conditions influence people's ability to buy properties.
