The manufacturing of homes has been going on for thousands of years and has gradually evolved into a large market for those looking to entertain a wide variety of interests ranging from a steady paycheck to large real estate income, or from those looking for their first place to live, to those becoming a landlord of a rental property. Home building is one of the strongest fields to examine when studying the overall economy of a nation. The designs and shapes of homes have changed many times since man decided that it was time to step out of the cave and make a sturdier, safer home for his family, thus making the industry more diverse than it ever was in the past. Each surrounding town or city housing market has always had an astounding affect on the home building market. This includes the rise and fall of the average income, increased or decreased annual spending, as well as fluctuations in mortgage interest rates.
Kimbell Art Musuem By Louis Kahn
United States
United StatesMaking the home building endeavor a lucrative opportunity for inspired entrepreneurs to flourish is not as easy as one might think. The home building process has many time-consuming steps and can be complicated when considering all the external factors such as; elasticity of the demand curve, positive and negative externalities, wage inequalities, and monetary and fiscal policies. All these factors should be considered when building ones future home.
Unlike other countries most Americans consider housing not just a necessity, but also a luxury, going above and beyond the basic necessities. Since "always wanting more" is part of human nature, price demands are inelastic and prices will rise no matter what is done above or beyond the basic four walls and a roof. This is not as bad as it may seem, the want for more amenities provides...