1. The Housing Sector, Interest Rates and Unemployment Examined
... sharp contrast, lenders require that mortgage payments do not exceed a level of between 28 to 30 percent of gross annual household income. The gap between affordable payments and available housing was quite large (Trimbath and Montoya, 2002, p. 2). Literature Review Rapid inflation in house prices, particularly over the past five years, is now a global phenomenon. The Economist (2003) launched its global house price indicators in early 2003 ... . Over the past five years, real house prices have increased at average annual rates of 8%-12% in Australia, UK, Ireland, the Netherlands and Spa...
- Word Count: 1565
- Approx Pages: 6
- Has Bibliography
- Grade Level: Undergraduate