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Chapter 26: Real Estate and the Economy
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Ability of area to produce a commodity or service that will bring in money from outside.
Industries that produce goods & services.BaseExportPrimary
Economic Base
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SHORT-RUN SUPPLY-DEMAND
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SHORT-RUN DROP IN DEMAND
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LIFETIME INCOME CURVE
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Effect on Property ValueVulnerabilityEmployment MultiplierHousing demand – short & long
run increases & decreases in supply & demand
effect on inflation
ECONOMIC FACTORS
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AGE DISTRIBUTION OF U.S. POPULATION
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AGE DISTRIBUTION FOR 2000–2006
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TAX LAWS1997 TAXPAYER RELIEF ACT1986 TAX BILL
FISCAL POLICYMONETARY POLICYSECONDARY MORTGAGE MARKET
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GOVERNMENTAL IMPACT
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Cost-Push Demand-PullMonetaryReal-CostTax BenefitsWatch the Feds
INFLATION
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What’s the future outlook?
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Key Terms
Base industry Cost-push inflation Demand-pull inflation Economic base Federal Reserve Board
Monetize the debt Real Real-cost inflation Service Industry
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