Essentials of Real Estate Economics / Edition 5

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Real Estate is an essential part of our economic vitality. While the concepts are fundamental to understanding the real estate field, this subject can be challenging and complex. This is precisely why Essentials of Real Estate Economics delivers a straightforward and practical approach to clearly understand the various factors that affect this market and cause real estate value to change.
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Product Details

  • ISBN-13: 9780324187441
  • Publisher: Cengage Learning
  • Publication date: 8/23/2005
  • Edition description: Fifth Edition
  • Edition number: 5
  • Pages: 462
  • Product dimensions: 8.54 (w) x 10.80 (h) x 1.00 (d)

Meet the Author

Dennis J. McKenzie, MBA, MA Economics, was an instructor in Real Estate and Economics, College of the Redwoods. He was formerly senior faculty in real estate, University of Southern California, College of Continuing Education. McKenzie was a REALTOR?, a GRI, and a faculty member of the REALTORS? Institute. He also served as an educational consultant for the California Department of Real Estate and was a past recipient of the Teacher of the Year award granted by the California Real Estate Educators Association.

Richard M. Betts is a California Certified Real Estate Appraiser and consultant in Berkley, California where he earned both his Bachelors and Masters degree at the University of California. Betts has extensive experience as a fee appraiser, including expert-witness appraisal before various superior courts and assessment appeal boards. Betts holds the professional designations MAI, SRA and ASA (Real Estate) and is a member of the Appraisal Institute and the American Society of Appraisers.

Carol A. Jensen, MBA, REALTOR?, is a real estate broker and instructor of real estate at City College of San Francisco and Cabrillo College. She teaches online, hybrid, and traditional classroom real estate courses as well as courses on small business management. Her experience includes developing academic, vocational, and continuing education course curriculum. Ms. Jensen serves as the current director of the California Community College Real Estate Educators Center, which is dedicated to advancing the quality of real estate instruction in California's community colleges. She also participates as a committee person in Academic Senate shared governance and is a member of the California Council for Adult Education. In addition, she has written several books and journal articles, and has contributed to online publications.

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Table of Contents

Pt. 1 Basic Economic Background for Real Estate Analysis
Ch. 1 Introduction to Real Estate Economics 2
Ch. 2 Review of the Economic Principles of Capitalism 7
Ch. 3 Government's Role in the Economy 38
Ch. 4 Money, Credit, and Real Estate 67
Ch. 5 Important Economic Features of Real Estate 94
Pt. 2 Understanding Real Estate Markets
Ch. 6 Regional and Community Analysis 120
Ch. 7 Community Growth Patterns 143
Ch. 8 Neighborhoods: Clusters of Land Use and Value 180
Ch. 9 Housing Markets 202
Ch. 10 Commercial and Industrial Markets 228
Ch. 11 Rural and Recreational Real Estate Markets 255
Pt. 3 Major Influences on Real Estate Development
Ch. 12 The Economics of Real Property Taxation 286
Ch. 13 Land-Use Controls 312
Ch. 14 Real Estate Development 339
Ch. 15 Required Government Reports 360
Pt. 4 Real Estate Investment: The Economics of the Parcel
Ch. 16 Summary of Real Estate Investment Principles 378
Ch. 17 Income Tax Aspects of Investment Real Estate 406
Ch. 18 Applied Real Estate Economics 428
Ch. 19 Anticipating Change 446
Answers to Reviewing Your Understanding Questions 463
Index 467
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  • Anonymous

    Posted November 17, 2006

    Excellent Overview of RE Economics

    This book is part of an exam preparation program for the California Real Estate Brokers Exam. It is an excellent source for that purpose but it is also an excellent source of information regarding the general topic of real estate economics. The book provides a brief introduction to economic principles and concepts for those who have a limited background in economic studies. This is helpful, but the real value of the book is how it dives into the key areas of economic principles and how they apply to the real estate market and profession. The book is geared towards the California market, but most of the principles and concepts are universal (at least within the United States economy and real estate market). I highly recommend this book to anyone with a casual or professional interest in real estate economics.

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