Essentials Real Estate Economics

Completely updaetd and one of the most direct and practical approaches to presenting the factors that cause real estate value to change. McKenzie and Betts have updated the fourth edition while adding graphics and coverage of contemporary topics. This text works well for individuals with little or no background in formal economics providing current information needed for a successful course in real estate economics for real estate agents, appraisers, and investors.

Through a direct and practical approach, this text presents the current economic factors that affect the real estate market and cause real estate values to change. Case & Point features throughout provide thought-provoking application of concepts and help generate discussion. No formal background in economics is required for both salesperson and broker candidates to gain a solid understanding of economic and finance principles that are fundamental to achieving success in the real estate field.

Real Estate: The Basics provides an easy-to-read introduction to the core concepts of the industry to students new to the subject or professionals changing direction within the sector. The book encapsulates the key ‘need to know’ aspects of Real Estate including the ‘language’ of real estate; its value and contribution to countries’ GDP; its primary purpose, whether as an asset or as a resource; valuation concepts; asset classes; basic concepts of land law, and of landlord and tenant law; the increased role and importance of sustainability and technology; and an overview of the wide range of professionals involved in the industry. Readers will come to appreciate how the different elements of the profession fit together, and the professional standards and practices that may apply. Real Estate: The Basics will be helpful reading for anyone thinking about studying Real Estate, Property, or other Built Environment topics. It could be used to teach across a wide variety of courses, to provide an aide memoire to those who are already working in the industry, and to give those who are responsible for appointing and monitoring real estate advisers a greater understanding of the workings of the real estate sector.