Essentials of Real Estate Economics, 7th Edition

This text was written to provide the basics of real estate economics. The text is intended for real estate students who have little or no background in formal economics. Thus, the approach is direct and practical. The book is an outgrowth of years of teaching real estate economics at California community colleges and private schools. The emphasis is on the factors that cause real estate uses or value to change. Our intent is to present this complex subject in as simple and practical a manner as possible. The focus of the book starts with the big picture, an overview of economics and money, and then presents the general issues of real estate economics. The focus then narrows down to city patterns and growth, followed by an examination of neighborhood concepts. The view then turns to the markets for, and key characteristics of, the various property types. Next come chapters examining governmental impacts on real estate, through property taxes, planning and zoning, and environmental impact reporting. The last section of the book turns to the economics of the individual property: investment analysis, income tax effects, and the uncertainties of the future.