Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
23 Cards in this Set
- Front
- Back
|
Realestate does what for the economy
|
creates networth
increases income flow creates new jobs helps control apprecaition and inflation |
|
|
Net worth
|
is the value of all assests minus all liabilities
|
|
|
what businesses are icluded in the real estate industry
|
brokerage, construction, management, finance
|
|
|
Appreciation
|
is the increase in market value of real estate`
|
|
|
Inflation
|
an increase in the general price level of good and services or a decrease in purchasing power of the dollar
|
|
|
cycles
|
are periodic, irregular up and down movements in economic activity that take place over a peiror of two to six weeks
|
|
|
two phases
|
expansion (recovery or boom)
Contration (recession or bust) |
|
|
Perfect Market
|
all producs are homogenous or the availablity of substitues
high degree of liquidity number of different buyers and sellers perfect an complete information Freedom to enter or exit the market products are portable and moblie Government pays a minor role in pricing no single buyer or seller is large enough t influence the market |
|
|
liquidity
|
is the degree to which as assset can be readily converted into cash without affecting the asset's price
|
|
|
Efficent market
|
is one with a large numbe of buyers and sellers
|
|
|
Organized Market
|
participants operate under recognized rules for teh purpose of buying and selling a particular commodity (ebay, stock exchange)
|
|
|
Imperfect Market
|
is realestate! is a market that cannot meet the requirement for a perfect market
|
|
|
Characteristics of a real estate (imperfect) Market
|
There are a limted number of buyers and sellers
information is not readily availble product is unique (non-homogeneous) The supply of land is limted and suppliers cannot build new properties quickly realestate is immoblie and not portable The real estate market is local and segmente governmnt influescens financing and property-use controls |
|
|
illiquid
|
that an assest cannot be readily converted to cash
|
|
|
Capitalism
|
is an economic system in which most of te economys resources are privately owned and managed
|
|
|
overseas buyers purchased about what percent of florida homes and where were the buyers from
|
25%/ Europe and Latin America
|
|
|
affordability index
|
shows how many households will be able ot afford a median-priced home in Florida
|
|
|
mortage intrest rates
|
determined by the federal reserve system (the Fed).
|
|
|
Who is the most international vistors and how many people visit Fl a year
|
British and Canada / 60 million
|
|
|
First European settlement ?
|
Pensacola
|
|
|
What are the four main climate zones in FL?
|
North Florida, Central Florida, South florida, Tropical Florida
|
|
|
How many households in Florida are able to purchase a median priced home?
|
one in five
|
|
|
Realestate cycle is:
|
trough, expansion, peak and contraction
|
