Chapter 15 Flashcards
1
Q
What is said to be the vacancy rate if the housing market is stable?
A
5%
1
Q
What does situs mean?
A
Situs means that people have a certain preference for where they live. For example, by the beach or in the city
2
Q
What kind of market are we in if there is plenty of housing available?
A
A buyer’s market
