Consider the place where you live (city, town, county, state etc.) and think about local housing market, what can we say about Demand and Supply for housing as related to a geographic area? How would we tie this into current economic conditions?
Hint: Consider factors (e.g more green jobs, tourism, etc) that contribute to stable/rising housing market and factors (e.g. disaster prone areas, pollution, etc.) that lead to the opposite.
You can all use T-I-P-E-N and P-R-E-S-T to explain why housing prices vary from one city to another.