Houston's large supply of land means that demand growth primarily results in more construction, not higher prices" (McCullagh & Gilmer, 2008). However, it is important to realize that land supply is only one part of the reason that new home construction formed such a large part of the Houston housing market. Yes, Houston has more available surrounding land than almost any other major metropolitan area in the United States, but

Using a timeline from the peak of new housing construction to the present day, the following occurred. GDP growth slowed, followed by a three-quarter recession and slow growth has resumed on the other side of that recession. The unemployment rate skyrocketed, more than doubling in a short period of time, and has lingered at high levels for over a year. The rate of inflation fell well below the Fed's

S. And that, as much as anything else, has allowed the U.S. To fall behind other nations in upward mobility of the population. Foroohar also suggests that some European nations (such as Germany) responded better to the recent economic crisis than the U.S., such as by artificially preventing unemployment rates from rising by subsidizing companies to retain them through hard times. As a result, consumer spending did not drop of the

Housing Bubbles Contagious? Like the sudden collapse of publically traded internet technology stocks in the year 2000 which was its predecessor, the speculative real estate bubble that peaked in 2006 and deflated with such sudden and devastating scope was viewed by many as a calamitous, but largely unforeseeable, confluence of catastrophic economic circumstances. Economic theorists and other researchers have begun the arduous process of debunking that self-perpetuating myth, however, by

The fall in demand derives from the increase in gas prices, which has altered consumer spending habits and encouraged home buyers from buying in outer suburbs. Demand has also fallen because of the lack of easy credit and the high price of homes. Much of the rise was attributable to easy credit, reasonable home prices and low fuel prices. The reversal of these factors has resulted in a steep

prohibitively rising cost of housing in Rhode Island has affected both the nuclear and extended family. Rising housing costs may force family members to move to less expensive areas, causing a breakdown in both extended and nuclear family structure. However, this may be balanced by the increased tendency of young adults, who cannot afford the high housing costs in Rhode Island, to live at home. Certainly, data outlined below indicate