News Article
Select a Real Estate News Article or Attend an Event
Please locate a real estate related current event, news article, or other related material. Additionally, you may also attend an open house, a broker’s open, or meet a real estate professional at a social event. For this assignment, please provide a brief paragraph detailing what the article or encounter meant to you.
Instructions
Please include the following in the reply box below:
- For a news article or other media, please include the link or source. For an open house or social event, please provide the contact information of the real estate professional and office affiliation.
- Provide at least a single paragraph explaining why you chose this article and what it means to real estate today. What did you learn from the article?
- For an open house, briefly describe what was discussed in a paragraph or two and explain if you would follow their business style. Why or why not? What would you change?
Requirements: depending on the questions
Answer preview
The real estate industry is constantly changing because of internal and external forces. One of the most notable moments in real estate was the 2008 housing bubble which the Federal Housing Administration concluded was caused by the issuance of cheap mortgage loans. The article I selected for this assignment predicts the repeat of the 2008 crisis following the effects of the covid-19 pandemic on real estate. In the article Chen (2021) highlights the increase in mortgagee prices as people try to move to suburban and city areas. This means that people can sell their houses fast for a high price but purchasing another house is also costly. According to Chen (2021), houses are closed within 20 days instead of the typical 60 days and there is a worry that some will find they overpaid for their property in the future. I learned the effects of external forces on real estate and the repercussions of such factors. At times, all stakeholders in real estate can act responsibly but external forces can throw off those efforts and force the industry
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