What influences demand for housing? :: Economics

What influences demand for housing?There atomic number 18 many key factors that leave alone affect the demand for housing any(prenominal) of the liberal ones to notice be population and monetary value. Thesefactors effect lots of goods as the larger keep down of heap the moreconsumers there go forth be. With price a consumer will always wish to assumethe lowest amount for a good. If the price gets to gritty then they willfind a substitute.Looking at population in more detail it isnt as simple as it wouldfirst appear. You could just say the public will buy a domiciliate and themore public there is there is more demand for the good. This in turnwould allow housing companies to adulterate larger prices and so only therich stool afford it. The bother is that mickle dont perk up to buy a planetary house they can bout one or shargon one. As well as these factors theycan sway out a loan to buy the house and pay it back over a period oftime. Loan companies charge kindle an d when interest rates are lowmore people take out loans as they dont have to pay back such a largesum of money. With lots of loans companies coming up, it has becomevery easy for anyone to get loan whatever their background is like.Renting a house can be done in lots of ways. Some people make theircareer in it they buy lots of houses and rent them to people who areunable to buy a house. This is good for people who are only in thecountry for a short period of time, as you can charge them largeamounts because of the location of your house. Some people dont haveany money at all and are in a bad economic state and are given ahouse/flat by the council. They still have to pay money to cognize in thehouse but less than from private rent business. orphic rentbusinesses are there to make a profit and will charge higher pricesand have better quality goods to match.When looking for at price it normally goes on a set pattern that as highprices means less demand and vis versa. The problem was this didnthappen and looking at figure 4.8. This is due to the low interestrates charged by loan companies mentioned above.When addressing others factors you need to look at the country and isit passing through some sort of event. During a depression people arefind it hard to get a job due to high unemployment. With this thedemand for new house with the public wouldnt become a extravagance that