Lesson 1
Introduction
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Real Estate is the biggest asset class and of great importance for both individuals and institutional investors. An array of economic and psychological factors impact real estate investment decisions and the public has changing ideas of real estate as a profitable investment. People's demand to buy a home by taking on long-term debt, called a mortgage, is often tied with the overall health of the economy and financial markets. In recessions, home buying tends to fall and the opposite holds in a strong economy. The most recent real estate boom illustrates the speculative nature of real estate, and its relation to financial and economic crises. Shiller, Robert J. ECON 252, Financial Markets (2008), Spring 2008. Yale OpenCourseWare: Economics, Accessed 22/9/14 http://oyc.yale.edu/economics/econ-252-08/lecture-12 License: Creative Commons BY-NC-SA


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