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These new families have also risen the demand for new housing. This has had adverse affects as the housing industry rose prices, since people were willing to pay a higher price for their new homes, thus producing higher yields for investors whilst deprive poorer families of much need money.
Infrastructure
The infrastructure is starting to fail as more and more people use the roads, the death toll is also rising and fuel is getting more and more expensive...
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The new East-Link toll way will take a major strain of our over crowed roads but will it be enough? A house is also a lager physical object that takes up a whole property; this means that builders are finding it hard to find places to actually build a house. More and more house are being built further and further for Melbourne, this puts added pressure on infrastructure as people need to travel further to get to the basic necessities such as hospitals, supermarkets, schools, doctors...
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Effects on determinants on Supply and Demand in the Housing market
In this activity you will need to go to the realtor.com website. Follow the instructions for "Finding a Home", and check housing prices for a 3-bedroom, 2-bath house in several cities, for example, San Francisco, CA; Topeka, KS; Dallas, TX; Concor...
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