XECO212-Housing market

The government and the fiscal policy it implements play a large role in the housing market. In this CheckPoint, you examine how government policy has consequences for you and the decision to buy a house. This helps you consider situations and alternative decisions in your final project. Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences. Evaluate the health of the housing market for the next two years by researching forecasts for mortgage rates, housing starts, and housing prices. The following websites provide a starting place for your research: • Mortgage rates: http://www.realtor.org • Housing starts: http://www.nahb.org • Housing prices: http://www.mbaa.org Submit a 250- to 300-word response addressing the following questions: • Which government bodies influence national fiscal policies that potentially affect the housing market? • What are some national fiscal policies that can affect mortgage rates, housing starts, and housing prices? Be sure to provide specific examples. • What is your recommendation as to the risks and benefits of purchasing a home based on these considerations?

450 words with 4 references.
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