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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.
Resources: http://www.realtor.org, http://www.nahb.org, http://www.mbaa.org
Assume for this CheckPoint that purchasing a recent home would be a major decision requiring a substantial financial outlay where the wrong decision would have 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 Web sites provide a starting place for your research:
o Mortgage rates: http://www.realtor.org
o Housing starts: http://www.nahb.org
o 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 would potentially affect the housing market?
o What are some national fiscal policies that can affect mortgage rates, housing starts, and housing prices? Be sure to provide specific examples.
o What is your recommendation as to the risks and benefits of purchasing a home based on these considerations?
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