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What statement is true about demand for housing?
The demand for housing is generally influenced by various factors including population growth, income levels, interest rates, and economic conditions. When incomes rise or interest rates decrease, demand for housing typically increases as more individuals can afford to buy homes. Additionally, trends in urbanization and lifestyle preferences can significantly impact housing demand. Conversely, economic downturns or rising interest rates may lead to a decrease in demand.
What does subprime mean?
I think it means Lending money to people who have bad credit at a lower interest rate ex; ARMS. and then when interest rates go higher , these people can't afford there payments, and end up in forecloseure Some of these loans were 100%+ financing. Meaning if the price of the house drops by 1% the owner would be in the red. If they ever sold the property at a lower price they would not be able to cover the cost of the loan.
How many syllables does afford have?
there are two syllables
If payments on a house cost 7 per month per 1000 borrowed and you think you can afford 700 for a payment how much can you borrow?
if you can afford 700 each month you can borrow 1000 x 100 = 100,000
What can happen if the MRP is greater than a firm's MC?
The firm can afford to hire more workers.
Last year Al could only afford to pay the interest charges on a 4700 balance so his balance did not change during the last year. If she paid 23.50 in interest a month what is her annual interest rate?
5%
What three factors determine the amount you pay in finance charges?
Finance charges are billed on any revoling balance. What determines what you pay is the balance at the closing of you monthly statment!!! The key is to pay more than the minimum. On average to avoid interest on credit cards do not carry a revolving balance to avoid interest. Tip: only charge what you can afford to pay!!!!
How can I take advantage of 0 interest on credit cards?
To take advantage of 0 interest on credit cards, pay off your balance before the promotional period ends to avoid accruing interest charges. Use the card for purchases you can afford to pay off in full each month to avoid accumulating debt.
What is a sub prime mortgage?
It is a mortgage that charges less interest than the market rate for a limited period of time. Many people borrowed more than they could afford because they were convinced they would be earning more money and would be able to afford the higher payments when the preferential interest rate ended. Unfortunately, many of them were wrong.
How can I effectively use a credit card for shopping?
To effectively use a credit card for shopping, it is important to only spend what you can afford to pay back in full each month to avoid accumulating debt. Additionally, try to pay off the balance on time to avoid interest charges. Monitoring your spending and setting a budget can also help you use your credit card responsibly.
Carrie has decided she can only afford to spend 30 percent of her yearly income on her house payment if she earns 42000 each year what is her highest monly house payment she can afford?
8
Why can a bank afford to pay an interest rate on a savings account?
because the bank lends money out at a higher interest rate
What are the costs and pitfalls of using a charge card?
Costs are the fees and interest charges. Pitfalls are that you will not manage your money well and go further in debt expecially by buying things you do not need or would not otherwise purchase had you only paid with money you could afford to spend.
What is the maximum amount of house I can afford for 800 a month?
The maximum amount of house you can afford for 800 a month depends on factors like interest rates, down payment, and loan term. Generally, with a 30-year mortgage and a 4 interest rate, you could afford a home worth around 160,000.
How can banks afford to pay interest on money held in savings accounts?
Magic elves
Why is the economy in such bad shape?
Because of interest. If we had zero% interest people wouldn't have stopped paying their mortage and we would be able to afford more things.
How banks afford to pay interest on their customers' savings account deposits?
They loan out the money in their customers' accounts and charge a higher interest rate on the loans.
