A New House – Economy.

A New House – Economy.

The difficulties of the economy affect many of the decisions you make as a consumer. No more so than when you are buying a house. The health of the economy is a factor you must consider when buying a house. Sometimes the economy favors sellers and at other times it favors buyers. This CheckPoint helps you refine your decision to buy a house; it prepares you to explain in your final project how the strength of the economy, government spending, and taxes affect the marginal costs and benefits of your decision.

Consider the role of government bodies that affect the strength of the economy.

Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.

Submit and post in Assignment Tab Only a 250- to 300-word response addressing the following points:

Explain how the strength of the economy as a whole could affect the marginal benefits and the marginal costs associated with a decision to purchase a home.
How does the removal of the tax deduction on mortgage interest affect the housing market?
How do other changes in government spending and taxes affect your decision?

Discussions questions

What are the advantages and disadvantages of
using the Gross Domestic Product (GDP) as a measure of productivity and economic
health? Explain your answers
Discuss the relationship between the level of GDP
and economic well-being. What factors of well-being are missing from the GDP? Is there
a point where the GDP could increase to such a high level that economic well-being
could be compromised? If so, describe some of the opportunity costs associated with
maximizing the GDP

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