The housing market was once known as the biggest money making industry in the United States. Housing, which was the way our economy made the majority of their money, is now contributing less to the economic expansion. The decline in the housing market has raised many concerns throughout the entire country. This paper provides statistics on the United States population housing market, economy, demographical characteristics, demographical area and the large amount vacant property. Included in this research document are analysis of data sets, charts and graph to help interpret the housing crisis.
Research Problem The purpose of this research is to determine why the housing market is in a downfall and if there is a way to get homeowners
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The population of all homes might be similar to the sample if the same percentage of homes sold were taken from a selected geographical area, Midwestern States, Western States and the European Americans. The mean sales price in the Midwestern states $111,693, in the Western states was $126,592, and in the European Americans was $158,444. Therefore, if the sample was taken from a population of homes sold in a certain period or perhaps every fifth home sold regardless of the area, the population could be drastically different due to the variances in the mean home price for each area. Not only will it depend on the population but also on the demographic characteristic of the person’s household such as race, and ethnicity.
Frequency Distribution: Due to the record number of US homes sitting vacant and the weakening of the housing market as a whole, the percentage of owning a home for Americans has slightly dropped. Metropolitan, suburban, and urban areas are experiencing a familiar landscape which showcases empty houses with for sale signs in the front yard. The entire market has shifted because owners are now obligated to lower their asking prices due to vacant lots causing the market to drop. "The share of U.S. homes owned but empty rose for the 10th straight