CE shop Unit 3 Questions/TF 100% Verified.
Real estate activities have an impact on the economy. TF - answerTrue
The health of the overall economy may rely heavily on construction of new properties. TF -
answerTrue
Which of these phases have an effect on the economy? - answerPlanning, building,...
Real estate activities have an impact on the economy. TF - answer✔✔True
The health of the overall economy may rely heavily on construction of new properties. TF -
answer✔✔True
Which of these phases have an effect on the economy? - answer✔✔Planning, building,
buying/selling, moving and living
Engineers, city and/or county officials map out local development - answer✔✔Planning
Engineers, contractors, and other workers build properties and infrastructure -
answer✔✔Construction
Consumers work with real estate professionals, lenders, home inspectors, etc., to purchase or sell
a home. - answer✔✔Buying/selling
Consumers make arrangements to occupy or leave the property. - answer✔✔Moving
Residents enjoy local amenities and services. - answer✔✔Living
Several different phases make up the real estate cycle. What are they? - answer✔✔Over supply,
Recession, Expansion and Recovery
During the _____ phase, the market begins to bottom out. We see home prices fall, while
foreclosures increase - answer✔✔Recession
During the ____ phase, things start to improve, and they continue improving until the end of the
____ phase, when the market peaks. - answer✔✔Recovery; Expansion
We see the market begin to make a downturn during the ____ phase, when buyers are over-
paying and activities are occurring at a rapid rate, which is not sustainable - answer✔✔Over
supply
There are so many houses on the market, with many sitting vacant because everyone is too
scared to buy. This does nothing to help the increasing number of foreclosures. Deals can be had
for those who are ready to buy, however. During this phase, prices tend to fall in order to
encourage home shoppers to buy. - answer✔✔Recession
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