Real Estate in America

Paper Summary:

This paper evaluates the historical cost of real estate contrasted with wages earned over the past 50 years. The research suggests that there has been a large increase in housing prices in the last few years while real wages have not increased at a similar pace. It explains that this has created a problem for low income and middle class families who desire to purchase homes.

Table of Contents:
Introduction
Purpose
Literature Review
Method
Conclusion
References

From the Paper:

"Over the past fifty years this ratio has changed drastically and has led to a decrease in the number of Americans that can afford to purchase real-estate, this is particularly true of newly constructed houses. In some areas of the country the price to income ratio is discouraging for those that want to purchase a new or even an existing home. For instance, in places like New York City and San Francisco it is extremely difficult for many people to afford housing."

Sample of Sources Used:

• Angel S. (2000) Housing Policy Matters: A Global Analysis. Oxford University Press: New York.
• Christie, L. (2006) Real estate cools down: Prices in the first quarter fell 3% from the fourth quarter, though are still up more than 10% from a year ago. May 16, 2006: Retrieved October 27, 2006 from; http://money.cnn.com/2006/05/15/real_estate/NAR_firstQ2005_home_prices/index.htm
• Housing prices devour incomes, 2005. Retrieved October 27, 2006 from; http://www.washtimes.com/business/20050428-095328-6016r.htm
• Occupation: Retail Salesperson Paycheck to Paycheck - 2005 Third Quarter Findings. Retrieved October 27, 2006 from; http://www.nhc.org/chp/p2p/one_occ_display.php
• Overview of Qualitative Methods and Analytic Techniques. National Science Foundation. Retrieved October 27, 2006 from; http://www.ehr.nsf.gov/EHR/REC/pubs/NSF97-153/CHAP_3.HTM

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