You buy a house and pay for it a year later the price of


You buy a house and pay for it. A year later the price of houses changes while all other prices(and your cash income) remain the same. Assume that houses can be sold and bought without incurring transactions costs. Show that the price change makes you better off irrespective of wheter it was an upward or a downward change.

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Business Economics: You buy a house and pay for it a year later the price of
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