Housing Market by https://padlet.com/handanzhang/housingmarket By Handan Zhang en-us 2020-12-01 02:21:54 UTC 2023-05-29 20:41:32 UTC hello@padlet.com https://padlet.net/icons/png/1f3e0.png Welcome to Housing Market handanzhang https://padlet.com/handanzhang/housingmarket/wish/974145578 This wall will give you some information about housing market through websites, videos and images. The Housing Market is about the supply and demand for houses in a particular country or region, it represents the market for properties being purchased and sold directly to buyers or through real estate brokers.]]> 2020-12-01 02:23:24 UTC https://padlet.com/handanzhang/housingmarket/wish/974145578 Website #1 Definition of the housing market handanzhang https://padlet.com/handanzhang/housingmarket/wish/974169282 This website gives an overview of what is housing market. It shows features of housing market, factors which affect the housing market, homeownership rates and affordability of housing. It sets the housing market in United Kingdom as an example to explain.
 
The website lists factors that affect the housing market, which is the most important point when people talking about housing market. From that I learn that affordability of housing and availability of mortgages are factors can have effects on the market. The given line graphs in this website show the statistics of housing market within the past 30 years in UK, which clearly explain the contents.
 
]]> 2020-12-01 02:35:08 UTC https://padlet.com/handanzhang/housingmarket/wish/974169282 Website #2 How does the law of supply and demand affect the housing market? handanzhang https://padlet.com/handanzhang/housingmarket/wish/974227213 This website fairly explains how supply and demand affect housing market. Housing market is a good example of how supply and demand work in economics. When the demand for housing is high, but supply is low, home prices often rise. When there is a large amount of housing available in a market, the home prices will be lowered due to less demand in the market. It also shows factors affecting housing supply and demand, such as lower interest rates, new home construction, natural disasters, etc.
This year is an example that how natural disasters and unpredictable pandemic affect housing market, such as bushfires in Australia and COVID-19 all over the world.
]]> 2020-12-01 03:06:40 UTC https://padlet.com/handanzhang/housingmarket/wish/974227213 Website #3 Canada Real Estate Market Overview handanzhang https://padlet.com/handanzhang/housingmarket/wish/974261365 This website is an overview of Canada Real Estate Market for all property types, housing market reports across Canada are given. From the statistics provided on the website, we can see the comparisons between this September and last year in transactions, average sold price and MLS home price index these three categories. 

This website explains what is Residential Property Price Index (RPPI) and gives out line graphs for us to see the increase RPPI value year over year, it also illustrates RPPI values on all property types. And from the website I know what is New Housing Price Index (NHPI) and numbers of real estate agents in Canada. Can you imagine there are over 130,000 real estate agents across all the provinces and territories.
]]> 2020-12-01 03:26:28 UTC https://padlet.com/handanzhang/housingmarket/wish/974261365 Website #4 The downside of the hot 2020 housing market handanzhang https://padlet.com/handanzhang/housingmarket/wish/974292121 This website is about the downside of the hot 2020 housing market in Canada. It describes what the housing market look like before the COVID-19 came, and the current circumstance. Before the pandemic, demand for housing was strong in the beginning of 2020. Due to the COVID-19, the lock-down temporarily immobilized the housing market. Then the housing demand was back to pre-COVID levels of growth, the frozen market was resumed, and it had steady growth after.

The website points out the unhealthy rate of housing price growth due to demographics and low mortgage rates. The author has the concern of the housing market in years 2020-2014, housing bubble probably would be a problem. 
]]> 2020-12-01 03:47:33 UTC https://padlet.com/handanzhang/housingmarket/wish/974292121 Video #1 handanzhang https://padlet.com/handanzhang/housingmarket/wish/974317479 The video in this website clearly tells us what real estate is. It let us know the real estate has three categories, residential, commercial and industrial. Residential includes houses, condominiums, townhouses and undeveloped land. Home ownership is the most common type in real estate. Commercial housing market includes office, warehouse and retail store buildings. It points out the difference between residential and commercial real estate. Industrial real estate includes factories and farms.
 
Even though this video is very short, it gives us an overview of housing market. It is not only about residential, but also includes commercial and industrial parts. 
]]> 2020-12-01 04:06:44 UTC https://padlet.com/handanzhang/housingmarket/wish/974317479 Video #2 handanzhang https://padlet.com/handanzhang/housingmarket/wish/974317658 The second video I am introducing to you is about will COVID-19 infect the housing market in Canada. It lays out that borrowing costs are very light due to the low interest rates, the reducing amount of people come to Canada, lifestyles changing among young generation, and some examples of other cities about city density. The guy in the video has optimistic attitude toward housing market in Canada.
 
I agree some points from him. In my opinion, I think everything will back to normal, people still need to buy home in the city. I do think COVID-19 have some effects on housing market, but in a long-term consideration, the housing market will back to normal.
]]> 2020-12-01 04:06:50 UTC https://padlet.com/handanzhang/housingmarket/wish/974317658 Video #3 handanzhang https://padlet.com/handanzhang/housingmarket/wish/974348923 The video in this website is about the difference between new construction and existence homes. In this video, the speaker tells us why people want to have a new home, there are several reasons behind it, such as they can participate into building a new house. And also, he let us know the benefits of buying an existing home. Price, move in time and location are main factors of consideration. Existing homes have lower price, people can move into the new home in a short time. In addition, existing homes usually have better neighbourhood and near schools.

In the end of the video, it shows there are only 10% of purchased housing in USA each year are new home. This gives us a clear concept of people’s choices on buying new homes or existing homes.
]]> 2020-12-01 04:30:52 UTC https://padlet.com/handanzhang/housingmarket/wish/974348923 Video #4 handanzhang https://padlet.com/handanzhang/housingmarket/wish/974365109 This video I introduce to you is about the when will the housing market crash. The speaker in the video says the reasons why the price of housing market is so high, low rates, high demand and low inventory. Purchase mortgage applications rise to highest level in 11 years. He also says the mortgage pressure, foreclosure and unemployment rates have effects on housing market. COVID-19 has affected to local business, lowering unemployment rate. 

In the end of the video, he estimates the price of housing market will be corrected or steady back to normal within 12 to 24 months, if there’s no extreme bubble.
]]> 2020-12-01 04:42:08 UTC https://padlet.com/handanzhang/housingmarket/wish/974365109 Image #1 handanzhang https://padlet.com/handanzhang/housingmarket/wish/974394926 The first image shows the factors that have effects on house prices. It clearly lists possible factors that may cause the increasing or decreasing prices in housing market. It also shows the factors in two sides: demand side and supply side.]]> 2020-12-01 05:01:09 UTC https://padlet.com/handanzhang/housingmarket/wish/974394926 Image #2 handanzhang https://padlet.com/handanzhang/housingmarket/wish/974397009 The second image indicates the definition of housing market, it is also called "real estate". Actually, housing market is not only considering residential homes - condominiums and houses; commercial, such as retail buildings, and industrial (farm and factories) are also included. ]]> 2020-12-01 05:02:23 UTC https://padlet.com/handanzhang/housingmarket/wish/974397009 1. What did you learn about your topic that surprised you the most? handanzhang https://padlet.com/handanzhang/housingmarket/wish/974412666 When I did research for this topic, I learned so many new things. It helps me to expand my horizon and broaden my perspective. Now I totally know what Housing Market is, the definition of housing market and what factors could affect it. I used to think housing market is all about residential and commercial, now I know industrial is a part of it. One thing surprised me is natural disaster and pandemic can have such a big effect on housing market.]]> 2020-12-01 05:12:24 UTC https://padlet.com/handanzhang/housingmarket/wish/974412666 2. Provide a real-life example of how this topic is relevant or interesting for you. handanzhang https://padlet.com/handanzhang/housingmarket/wish/974412876 Housing is very important for many people; most people want to have a forever home with family members. I am willing to have my own property, when consider buying a house or condo, there are many factors need to think of. From this topic, I know most people will go for existing homes instead of buying new homes, this phenomenon will remind me to consider more factors when I make a decision.]]> 2020-12-01 05:12:33 UTC https://padlet.com/handanzhang/housingmarket/wish/974412876 3. If you could pass on your knowledge to a friend or family member, what do you think is the most important thing to pass on? handanzhang https://padlet.com/handanzhang/housingmarket/wish/974413313 I think I will let them know that do not make a decision very quick when purchasing homes. I know some people will follow others to buy homes when they see the price of housing keeps increasing. We should always remember the factors that can affect housing prices, and we should consider personal situation. Now the housing market is hot, do not blindly be followers, do more research and then make a decision. ]]> 2020-12-01 05:12:52 UTC https://padlet.com/handanzhang/housingmarket/wish/974413313