Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of prices, supply, and demand. The closely related field of housing economics is narrower in scope, concentrating on residential real estate markets, while the investigate of real estate trends focuses on the business and structural changes affecting the industry.
With the Real Estate Market recovering quite beautifully, the year of 2015 promises to be a welcome reprieve for those involved in this sector. The economy is ready for real estate.
When the recovery of the real estate market began in 2013, there was insufficient supply to meet the rapid growing demand. If you have recently bought a residence, you will know that the mortgage rates have gone up. Towards the end of this year and untimely next year, the mortgage rates are estimated to be at their highest.
The advantage of having the mortgages so high is that it is easier to obtain them. So while you may be shelling a little more than usual, the amount of red tape has reduced significantly and you are probable to be a proud owner quicker than ever.
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