ABSTRACT
Classical housing boom models are introduced and the various causes are itemized and analyzed in Chapter 3. The Minksy Moment is introduced in light of the moment when asset prices start to decline. Market participants in the housing boom process are discussed. The home as an investment or as consumption is discussed, as are the aesthetics of the housing option. Three socio-demographic models of home consumption are introduced. Sales approach and cost approach subjectivity are introduced and explained. The market vignette for chapter 3 allows the reader to experience a conversation between a real estate agent and prospective clients in light of the chapter’s primary topics.
