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Housing demand supply

 
 
gelilah
 
Reply Wed 1 Jul, 2015 06:04 pm
hi all

My first econ class and it is already drivin me nuts. What does the 2006-08 housing look like in graph?

I read the demand was at its highest in 2006 and had the sharpest fall in 2008. So, shouldnt the demand curve of 2006 be up while 2008 down? Also, how was the price and the quantity in both years if you have any idea? From what I gathered, more demand means higher price. So shoulnt the supply and demand be parallel instead of inverse?

Please help with as much clear as possible. Functional graph wouldnt hurt too :p

Thanks
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Type: Discussion • Score: 3 • Views: 1,034 • Replies: 2
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Butrflynet
 
  1  
Reply Wed 1 Jul, 2015 08:51 pm
@gelilah,
Here are some websites to help get you started on your homework project.


http://www.forbes.com/sites/kirandhillon/2014/08/01/heres-a-look-at-the-housing-market-eight-years-after-the-collapse-3/

http://www.huffingtonpost.com/2011/04/27/housing-market-prices-chart-recession_n_854388.html

https://en.wikipedia.org/wiki/United_States_housing_bubble

https://en.wikipedia.org/wiki/Timeline_of_the_United_States_housing_bubble

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Kolyo
 
  1  
Reply Wed 1 Jul, 2015 11:55 pm
Your questions indicate you should see a human tutor who can explain things from first principles, with lots of sketches.

Does your school offer a tutor?
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