Discuss housing affordability in general. When researching your response consider the following: personal income, housing prices, mortgage rates, nonmortgage expenses, and also personal/mental/social positives and negatives of owning vs renting.

Discuss housing affordability in general. When researching your response consider the following: personal income, housing prices, mortgage rates, nonmortgage expenses, and also personal/mental/social positives and negatives of owning vs renting.

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter16: Real Estate And High-risk Investments

Section: Chapter Questions

Problem 5LTAI

See similar textbooks

Related questions

Q: There are many indicators that can be used to determine a community’s needs and resources. Which of…

A: The answer is option 4: Homeownership. Homeownership is not a community need and resource indicator.

Q: What do you think is the best savings product for an (a) working individual, (b) family/household,…

A: To find the suitable investment products, one must assess their financial position and risk taking…

Q: Describe some of the motives and mistakes made by the home buyers?

A: Motives of the home buyers: A general motive of the home buyers is the need of ownership of a…

Q: A client comes to you who needs help developing a plan for retirement and doesn’t have a current…

A: Retirement planning involves saving funds and investing it adequately; so that, the principal and…

Q: Evaluate the benefits and costs of homeownership

A: Home ownership is also known as owner-occupancy. It means to possess another persons house, flat…

Q: What are other options for housing in retirement? Select all that apply, then click Submit below…

A: Retirement planning is referred as the financial strategies of investment, saving and distribution…

Q: s it still beneficial for a person to have an insurance policy? Explain your answer in detail.

A: Insurance Policy - It is a written document between the insurer and policy holder. In which insurer…

Q: Of all the mistakes that people make when planning for retirement, which one might be likely to…

A: The method of assessing income in retirement objectives and steps and options required to achieve…

Q: You are going to be a partner of your friend in a real estate business. How will you do it?

A: Friendships tend to be the foundation of many effective organisations in some instances. Pairs of…

Q: Why is the establishment of a credit shelter trust fund considered a good estate planning technique?

A: Credit Shelter Trust Fund is also known as Bypass Trust. Credit Shelter Trust Fund is created to…

Q: you will suggest to someone, which is better to have a life insurance or non life insurance? Why?

A: Life insurance is related to death benefits and non life insurance is related to physical assets…

Q: Suppose financial intermediaries did not exist and only direct finance was possible. How would this…

A: A financial intermediary is a company or people that acts as a go-between for various parties to…

Q: Which of the following describes disjoint events? Select one: a.Planning a picnic: Event that…

A: Disjoint events are events that never occur at the same time. These are also known as mutually…

Q: will suggest to someone, which is better to have a life insurance or non life ins

A: Insurance is very necessary to prevent the uncertainty and risk.

Q: Homeowners policies have limits for items such as rare coins and jewelry. Which of the following…

A: If an individual owns some expensive items like antique articles, jewelry, fine arts, etc. then such…

Q: As a student, do you feel the effects of train law? If yes , how does it affects you? If no, why do…

A: Train law is briefly known as Tax Reform for Acceleration and Inclusion law. It is signed into law…

Q: If you will suggest to someone, which is better to have a life insurance or non life insurance

A: Non-life insurance is also known as general, property, and casualty insurance. It's any insurance…

Q: Why should planning for retirement be a long-term goal that is affected by Social Security? Why…

A: Planning for retirement helps to find out the after retirement Income sources, goals and the ways to…

Q: Under what circumstances would you consider buying or renting a house?

A: Although both renting and buying have financial benefits, homeownership is not for everyone. Unlike…

Q: Which one of the following child or dependent care expenses qualifies as an employment-related…

A: Qualified deductions are the eligible deductions which are listed by the taxation authorities. These…

Q: What type of life insurance policy would give you investment choice?

A: Unit linked insurance plans (ULIP) is life insurance plans that having hybrid characteristics. This…

Q: Which of the following financial tools is especially important for parents? A. A will b. Life…

A: Following financial tools are important for parents-

Q: Estate planning is becoming more important to many individuals. Identify several goals of estate…

Q: Identify issues pertaining to any financial regulations that cause persons to loose their home?

A: In case of a default unlimited liability might cause a shareholder to loose their home.

Q: Homs consider before they make their decision as whether to open the restaurant?

A: Variable costs are those costs which are incurred in proportion to the production output or units…

Q: Issue is affordable housing- 1. What is the housing issue, what is the community, and how is the…

A: In-house finance is when a company gives its consumers a loan so that they can buy its products or…

Q: HY YOU SHOULD BE FINANCIALLY LITERA

A: Today we are living in knowledge world and more knowledge would create more wealth for you and would…

Q: o you understand by the term ias 38 and what are its criteria, advantages and disadvantage in real…

A: IAS 38 intangible assets outlines the accounting necessities for intangible assets, which are…

Q: Based on what you have learned about the SAFE Act and the role of the NMLS, how has the SAFE Act and…

A: Meaning of SAFE Act- The Secure and Fair Enforcement for Mortgage licensing Act.of 2008(SAFE Act) .…

Q: Discuss the impact risk exposures have on families and friends.

A: Risk exposure: While risk refers to the possibility that the actual outcome may be different from…

Q: Virendra decides to open a Sub Way outlet in his locality for which he will need certain assets and…

A: Assets: An asset is anything of value or a resource of value that can be converted into cash.…

Q: which of the following statements about equal housing opportunities in Georgia is incorrect? All…

A: Equal Housing Opportunity in Georgia In general term it is the dream of the each citizen who own the…

Q: What were your feelings about your need for life insurance before you read this chapter? What are…

A: Insurance is a means of mitigating risk. When you buy insurance, you are purchasing protection…

Q: Compare the advantages of renting to buying. Why is it not always better to buy a house then to rent…

A: Renting a house meaning the right to use the property with owning it. Buying the house means the…

Q: Social Security is a “pay-as-you-go” system. How

A: Social security refers to the protection which is provided by society to individuals or households…

Q: Based on what you have learned about the SAFE Act and the role of the NMLS, how has the SAFE Act and…

A: SAFE Act: " Secure and Fair Enforcement for Mortgage Licensing Act " The Nationwide Mortgage…

Q: What are the problems with return on premium life insurance? What type of individual would purchase…

A: Term life insurance guarantees payment of a stated death benefit if the covered person dies during a…

Concept explainers

Factors Affecting Housing Decision

Question

100%

Can someone give me their input on this question please.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

What are the main benefits and drawbacks of renting a place of residence?
Rent versus buy analysis - Part 2 Which is better: to rent or to buy? The decision of whether to rent or buy housing is a personal decision that is based on both your lifestyle and your finances While most financial experts argue that the financial aspect of the decision. is important, it is also important not to base your rent- or buy decision solely on the numbers. Your personal needs and housing market conditions are important. However, it is still necessary to perform the financial analysis. Tim and his wife are trying to decide whether to rent or to purchase a new townhouse. After looking for several months, they ve narrowed their choice down to one particular house, and the builder is willing to lease or sell-depending upon the preference of the buyer. To perform a rent or buy analysis, Tim and his wife have collected the following information: if they rent, the builder will require monthly rental payments of $1,300 and a security deposit equal to two months of rent Since they…
How do a person’s employment and household situation influence the selection of housing?
Issue is affordable housing- 1. What is the housing issue, what is the community, and how is the issue affecting the community. What are possible options that can be taken to change the issue? What is your recommendation of the right solution for the issue?
what are the advantages and disadvantages of renting versus owning a home?
c) Using examples, how could the residual income method be operationalized to address potential policy applications for homeownership and rental housing affordability?
Does the location of a house impact the cost of a home? Explain why? Give examples.
Describe some of the motives and mistakes made by the home buyers?
d) There are many indicators that can be used to determine a community’s needs and resources. Which of the following is not a community needs and resources indictor? Group of answer choices 1: Attitudes toward taxes. 2: Local unemployment rate. 3: Property values. 4: Home ownership.
Describe three typical housing costs for renters. Please state your responses in complete sentences.
in your own words please discuss the following statement.in investment decision making process,an investor's age economic status and family obligatios are bound to affects choices.
Why does a house broker usually recommend her clients the median house price in a community but not average price?