Over the past 5 years, the real estate industry has experienced some major shifts of demand and supply with residential housing. As a result of these shifts, price and quantity have been affected.
Please explain how demand and supply of residential housing has affected the price and quantity for both buyers and sellers.
Be specific with your answer if you are referring to a specific city and state within the United States. * Graphs are not required for this particular question.
Define, describe and use an example for each of the follow terms (see below). Each definition (including example) should be no more than 50 words.