For this assignment, you will first present a chart showing the changes in housi

Question

For this assignment, you will first present a chart showing the changes in housing prices of a city over time.

Highlight two periods with significant changes in prices. Are the changes caused by the shift in demand or shift in supply?

Please find the sample assignment below.

Assignment 2: Hong Kong Housing prices (average price per square feet) Period TY 3Y 5Y 10Y Al From 1997-0To 2017-12 12 1,000 10,000 9000 7000 6000 5000 4000 3000 2000 1000 16,000 11,000 Iilul 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016

Explanation / Answer

In both the periods, demand was the primary factor which led to the increase or decrease in the housing prices. There were policies by the government like an increase in the supply of houses to tackle the situation.

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