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CE shop Unit 3 questions and answers
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CE shop Unit 3 questions and answers
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CE shop Unit 3 questions and answersReal estate activities have an impact on the economy. TF - Answer -True
The health of the overall economy may rely heavily on construction of new properties.
TF - Answer -True
Which of these phases have an effect on the economy? - Answer -Planning, building,
buying/selling, moving and living
Engineers, city and/or county officials map out local development - Answer -Planning
Engineers, contractors, and other workers build properties and infrastructure - Answer -
Construction
Consumers work with real estate professionals, lenders, home inspectors, etc., to
purchase or sell a home. - Answer -Buying/selling
Consumers make arrangements to occupy or leave the property. - Answer -Moving
Residents enjoy local amenities and services. - Answer -Living
Several different phases make up the real estate cycle. What are they? - Answer -Over
supply, Recession, Expansion and Recovery
During the _____ phase, the market begins to bottom out. We see home prices fall,
while foreclosures increase - Answer -Recession
During the ____ phase, things start to improve, and they continue improving until the
end of the ____ phase, when the market peaks. - Answer -Recovery; Expansion
We see the market begin to make a downturn during the ____ phase, when buyers are
over-paying and activities are occurring at a rapid rate, which is not sustainable -
Answer -Over supply
There are so many houses on the market, with many sitting vacant because everyone is
too scared to buy. This does nothing to help the increasing number of foreclosures.
Deals can be had for those who are ready to buy, however. During this phase, prices
tend to fall in order to encourage home shoppers to buy. - Answer -Recession
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