Brief commentary on utility maximization aspects

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Question

The average current price of a home here in Columbia is roughly $221,245 (Zillow, 10/23). Here are some of the lows and highs in housing prices in Columbia; Average price of homes in North Columbia (NC), $105,956 Average price of a home in Gregg Park (GP), $762,979 The average 30 year housing loan in Columbia is 7.660% The average 15 year housing loan in Columbia is 6.704% Determine the monthly housing payments for the average, NC, and GP homes here in Columbia. Use the standard 30 year rate for your calculations. Provide a brief commentary on the utility maximization aspects based on your own feelings and observations.

Reference no: EM134040089

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