Based on the complete model of housing, the real price of housing over the long run: Should not show any trend, since the long-run determinants do not showa trend Should exhibit a continuous rise as incomes rise and land is less available Should exhibit a decline as housing investment as faction of GDP continues to add to the stock of housing Should exhibit an upward trend as real interest decline

Based on the complete model of housing, the real price of housing over the long run: Should not show any trend, since the long-run determinants do not showa trend Should exhibit a continuous rise as incomes rise and land is less available Should exhibit a decline as housing investment as faction of GDP continues to add to the stock of housing Should exhibit an upward trend as real interest decline

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Based on the complete model of housing, the real price of housing over the long run:
Should not show any trend, since the long-run determinants do not show a trend
Should exhibit a continuous rise as incomes rise and land is less available
Should exhibit a decline as housing investment as faction of GDP continues to
add to the stock of housing
Should exhibit an upward trend as real interest decline

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