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Community Reinvestment Act Essay

303 Words2 Pages
The housing market heavily depend on supply and demand in determining equilibrium prices for buyers and sellers in the real estate market. The number of homes for sale make up the supply in the housing market. As sale prices increase, the demand to purchase a home decrease and as prices decrease the demand to purchase a home will increase. Reaching an equilibrium point where buyers and sellers can agree, homes will be sold accordingly. Construction and supplier cost play a major role in production, affecting the act of selling a home and the expectant sellers profit. The Community Reinvestment Act (CRA) enacted by Congress in 1977 with intentions of encouraging depository institutions to help meet credit needs of the communities in which

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