ipl-logo

How Can The Home Construction Industry Affect The Housing Industry?

887 Words4 Pages

Low finance rates, Americans are purchasing homes more than ever before now, but the quality of these mass constructed homes are plummeting. Just imagine breaking your back working day to day, saving up yearly for 10 years for your first home and losing it all and more because your home fell off due to a fire. This is an example of what may be able to happen when a house is poorly constructed. Home builders and contractors are ignoring the much needed safety regulations when calculating budgets for home construction. It is these detriments that are dropping the standards of building within the home-building industry, which costs Americans millions and maybe even billions yearly due to property losses and repair costs. Foundations and firms are cracking heavy due to the poor engineering and rushed procedures, while homes are burning as if they were mere piles of brushwood due to faulty wiring and disregard of general fire precautions that should be taken in place. …show more content…

It’s an important industry and one that will always have a need since it creates a product that is one of the necessities of human life. Economics play as much as an important role in the housing industry along with all additional industries. There are several factors that can affect the housing industry economically. Supply and demand tied with the price elasticity can affect the housing industry. Negative as well as positive externalities, wage inequity, and the monetary and fiscal policies can all have extensive effects on new home industries. It’s all determined exactly how the economy affects the industry in both positive and negative

Show More
Related

Chapter Analysis: Fire In The Cocoanut Grove

1007 Words | 5 Pages

Massive fires aren’t just a thing of the past. Without proper protection and prevention, it is very likely that such a devastating disaster could easily happen

Read More

Advantages And Disadvantages Of Canadian Wood Frame House Construction

172 Words | 1 Pages

in the text of the canadian wood-frame house construction talk about of the some construccion, is an introductory book for understanding and applying wood-frame house construction principles. the national building code of canada uses metric units and these govern whenever strict interpretations of code requirements and required. the advantages of wood- frame construction are it is durable, built from a renewable resource, fast and easy to build and renovate, natural insulator that is easy to insulate to minimize heating and cooling cost, strong, light and flexible using basic tools and fasteners, easy tailored to the range of wind and snow loads found throughout Canada, easily reinforced to withstand extreme wind and earthquake loads, adaptable

Read More

Canada's Housing Market Essay

858 Words | 4 Pages

When the interest rates rise, it increases the cost of the housing market and reduces their demands (Financial Post, 2023). This eventually drops the rates of the houses and increases the mortgage rates. In case of higher selling prices, the homeowners will find it difficult to sell their houses as the audience shifts to other places offering affordable housing. For example, the number of immigrants is increasing in Canada, increasing the rental market. As home prices fell last year in Canada, people started investing in the housing market and eventually, sending the prices of interest and sales higher.

Read More

How Did Ww2 Affect The Economy

1479 Words | 6 Pages

World War II was a global war filled with innumerable deaths and unspeakable atrocities. Not only did it shift the balance of power between countries and shape the development of the world after that point, the war also left a lasting impression in people’s minds to this day. It created an unprecedented path of ruin and destruction in Europe and Asia, tearing apart countries and displacing families. Even in the United States, in which nearly no fighting took place, the resounding effects of the war permeated through all aspects of life. On the home front, World War II ended the Great Depression and led the United States to become an anti-Communist world power.

Read More

Nineteen By Nora Raleigh Baskin Essay

650 Words | 3 Pages

and trying to find something in Los Angeles they could afford.” In real life some people and websites say that getting a home in Los Angeles is too hard to afford, such as a website called Reddit has people that hate the overpriced houses in Los Angeles. Another website says r/LosAngeles has an article that says that L.A. is the most expensive and inconvenient when needing a house and 95% of the people who read that article agreed to it. One last article that says that L.A. is too expensive is from a website called Economic Times which has an article stating reasons why Los Angeles is too expensive for people who are not making thousands or millions of dollars. In conclusion, not having overpriced houses is good for the economy for

Read More

2.2 Explain Indirect And Direct Reasons For The Housing Crisis

388 Words | 2 Pages

Indirect reasons of housing crisis housing price increases, but the salaries of workers did not rise respectively. The selling of derivatives, and collateralized debt obligation also are the direct reason of the housing crisis. Starting in 1990s, deregulation and advance technology led to an explosion of complex financial product called derivatives; this makes the financial market not safer,

Read More

Hull House Memo

543 Words | 3 Pages

On October 8th of 1871, a massive fire destroyed thousands of buildings and killed approximately 300 people. About 100,000 were left homeless and the disaster summed up to about $200 million in damages. With this major issue of such high cost in property loss we must help these poor, innocent people in getting the help they rightfully deserve. In addition, we will work to save up funds to contribute to the construction of buildings of other materials than wood, which is

Read More

Supply And Demand Simulation Paper

820 Words | 4 Pages

It depicted the various economic factors that affected the management of the property and how the supply and demand affected the firm’s bottom line, while paying attention to how community expansion and unemployment played key factors in how rental rates are conceived. It also took into consideration that if there was a decrease in demand from consumers for the apartments being offered the demand curve shifted to the left, the reason for that shift was the increased desire to own property rather than rent an apartment. To combat the surge in the consumer desire for property ownership the property management firm was forced to lower rental rates to increase demand for their apartments. Because they were forced to do this by a change in consumer desires the equilibrium price had to be reduced because the demand for the apartments decreased while the quantity remained

Read More

Analysis Of Growing Up In America By Martin Gitlin

781 Words | 4 Pages

This is also very common throughout the United States, mostly in big cities but it is also spreading into cities that aren’t as major, as the price of houses has been on the rise recently. The size of the house also greatly affects the price.

Read More

Pros And Cons Of Affordable Housing

1222 Words | 5 Pages

Also, home ownership increases the amount of care people have upon the property owned (Gordon 2004). However, one disadvatantage that affordable housing poses is that more and more people are being priced out of home ownership (Shelter 2015). This means that the rent of house increases and more people are competing for every single

Read More

Persuasive Essay On California

859 Words | 4 Pages

To create safe living spaces one has to do a thorough job, and allowing construction companies to cut corners can lead to catastrophic results. The idealistic thought does not account for the fact that safe and sound buildings

Read More

7 Reasons Why New York City Has The Highest Construction Cost In The World

652 Words | 3 Pages

This is the reason why space required for construction projects are limited. It has increased the rates of the real estate property. Most of the property owners has 3 to 4 times more price as compared to market rate because they know the increasing demand for their property. Competitive environment We all know that with the competitive environment the rate of products decreases but in New York City everything is going in the wrong direction.

Read More

Compare And Contrast Renting Versus Buying A House

577 Words | 3 Pages

Furthermore, the value of the home will increase as time goes by which build equity, and provide obvious benefit for the owner. The owner can also choose to rent their house to other in order to make money. The article “Endogenous gentrification and housing price dynamics?” provides pieces of evidence to reveal that owning rather than renting since the price of

Read More

Argumentative Essay On Firefighting

1157 Words | 5 Pages

This is bad because fires are getting worse. This is because houses have more flammable materials in them and climate change. Steve Kerber, the Vice President and Executive Director of the Fire Safety Research Institute said “The number of fires being

Read More

Impact Of Recession In Construction Industry

806 Words | 4 Pages

CHAPTER 5 CONCLUSION 5.1 Introduction The impact of recession has been felt throughout the world. This study is an effort to analyse the impact of the recession in India, especially in the construction industry. The impact of the recession has been different in countries around the world. The way the recession has affected the various industries of each nation is also different.

Read More

More about How Can The Home Construction Industry Affect The Housing Industry?

Related Topics

Open Document