Outward or inward shift in relevant demand curve for housing

Reference no: EM13692429

The demand for housing its often described as being highly cyclical and very sensitive to housing prices and interest these characteristics describe the effect of each of the following in terms of whether it would increase or decrease the quantity demanded or the demand for housing. Moreover when price is expressed as a function of quantity, indicate whether the effect of each of the following is an upward or downward movement along a given demand curve or involves an outward or inward shift in the relevant demand curve for housing. Explain

1. An increase in housing prices

2. Arise in interest rates

3. A fall in interest rates

4. A severe economic recession

5. A robust economic expansion

Reference no: EM13692429

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