For this inquiry question I will be able to find the answer through these three pieces of information. The first piece of information is the trend of housing prices over a period of time in Canada. The second piece of information is the change in the economy after a change in the price of a house. The third and final piece of information is what causes house prices to rise and how changes in the economy affect the price. The information can help answer my question by providing information that I need to answer the question and list how the changes in housing prices and the change in the economy correlate.
Below are 5 sources that I can use to help me find the information I need. The first site is Wikipedia, although some people think that Wikipedia might have false information it provides detailed information and even if the information is false I an cross reference with other websites. The second source I will use for my research is Brittanica. Brittanica is an online encyclopedia fact checked by experts with highly detailed information that I can trust. The third source where I will be getting my information is statistic Canada as it is the national statistical office which provides statistics regarding Canada. The fourth source in which I will get my information from is economics observatory, this website was founded by an economist and aims to provide information on economics which will provide useful information to help answer my question. The fifth and final source that I will use to help answer my question is economics help, this website has information on general economics including information on the trend of housing prices.
This question can impact individuals or groups in my community as they will gain a higher understanding of the economy and how changes to its effect housing prices leading individuals to make informed decisions when buying houses as they now predict the change in the price of houses based on the economy. This question also impacts people in my community as people asking this question can gain an understanding of the trend of housing prices, people selling houses are also impacted by the question as sellers want to sell when their house is at its highest value so asking and knowing the answer to this question would help sellers to accurately choose the best time to sell. People buying houses are impacted as they want to buy at the lowest price this question can help buyers know when to buy as they can look at the current state of the economy to make an informed guess about future housing prices.
Hello Andre,
Your analysis of how housing prices affect both individuals and groups in the community is insightful, especially how it impacts both buyers and sellers. The connection between understanding economic trends and making informed housing decisions is complex, and you’ve captured the potential benefits of this knowledge for readers like me. The topic is timely and relevant, and it’s great that you’ve acknowledged the potential for cross-referencing information from Wikipedia.
You mentioned using several sources to gather data, but have you considered how to address potential biases in these sources (such as any inherent bias in Wikipedia or the perspectives from Economics Help)?
Here are some sources that might be helpful:
https://habitat.ca/en/stories/2024-survey-highlights-the-ripples-effect-of-the-housing-crisis
https://theconversation.com/whats-behind-canadas-housing-crisis-experts-break-down-the-different-factors-at-play-239050
-Amy
Hi Andre,
I liked reading your post, and I am curious to see your conclusion since I have also wondered about how housing prices affect Canada’s economy. Good job stating and explaining how you will find your answer with the three pieces of information.
Some questions I have for you are:
– How does the housing market influence financial stability?
– Do changes in housing prices also affect wealth distribution?
– Can higher house prices lead to job creation?
– How do housing price changes affect consumer spending?
Since you are following trend of housing prices in Canada
– Do Housing prices impact the Canadian economy in unique ways compared to other countries?
Here are some websites that may help with your project and with answering the questions I have:
– https://www.economicshelp.org/blog/21636/housing/how-the-housing-market-affects-the-economy/
– https://www.economicsobservatory.com/how-does-the-housing-market-affect-financial-and-economic-stability
– https://www.habitat.org/costofhome/housing-affordability-and-economy
– https://rates.ca/resources/our-housing-market-through-eyes-other-countries
– https://theconversation.com/whats-behind-canadas-housing-crisis-experts-break-down-the-different-factors-at-play-239050
– https://www.movesmartly.com/articles/how-do-canadian-home-prices-compare-globally