ABSTRACT
Housing not only provides shelter for human habitation, it also plays an important role in the macroeconomy. As home purchase often needs the input of workmen from various sectors, homebuyers not only pay for the housing unit alone but also provide jobs and business opportunities for various sectors. For example, lawyers provide legal advice and services, bankers provide mortgage services, while construction workers and designers help decorate houses. Hence, the flourishing and withering of the housing market does not solely affect the real estate sector, but many other sectors which provide numerous services and products.
