Supply and Demand

770 Words4 Pages
Supply and demand By Ronald Ahrens I pick buying a new house because it is something I have done in goo time and bad times. I will talk about what are the factor that could have because the changes in the supply and demand in the area I was buying a house. Also I will discuss the two substitutes that were out there it I did not buy a new house. I will also discuss two complements that were or the house I brought. I will also explain the necessity of chosen good impact on buying a house. Well the change in the market when I brought my new house when we move from Texas. It was different when we live in Texas there were not enough house on the market so I was able to get a good price for my house. When I move to north central…show more content…
The price was a major complement we had because we were able to buy the house at a cheap price and were able to afford to make changes to the house that we want to do to make us feel at home. The extra money allowed us to put the addition on the house we need and we were able to redo the bathroom the way we wanted it and have it setup to meet our needs. The second one was the taxes were the lowest and still the lowest in the area were we but are house and we are close enough to the supermarket so when it is nice we will walk to the market to grab stuff the save money on gas. To choose a good elasticity price is a lot of thing that go into it. It is always what the market calls for. In my cases when I sold my house in Texas there were not enough houses on the market for the amount of people looking for house I made a profit on a house I only own for three years. I also was in a good position when I brought my house because there were too many house on the market and not enough buyers because of the economy being bad in the state of Illinois were the economy was down and people were moving out of the state to find jobs in different states such as Texas were the economy was booming and people were moving too to find jobs. It is depend on what the market calls for just like it does for gas people use a lot of gas price goes up because the demand is up. If people cut gas goes down because the demand goes down.

More about Supply and Demand

Open Document