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Real estate economics is the study of applications of economic techniques on real estate markets. The subject gives description and explanation of patterns of prices, supply, and demand. Real estate refers to as the land plus anything permanently fixed to it, and the market where real estate is presented as a commodity, is defined as real estate economics.
Essentials of Real Estate Economics By Dennis J. MacKenzie, Richard M. Betts, Carol Ann Jensen (published by Cengage Learning, 2011)
Real Estate Economics: A Point-to-Point Handbook By Nicholas G Pirounakis (published by Routledge, 2013)
Factors like income, price of the house, cost and availability of credit, investor preferences, consumer preferences, price of compliments and price of substitutes all play a significant role. The supply and demand factor of real estate also depends on family size, the age composition of the family, net migration, and the number of first and second children.
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