Module 2, Assignment 3

Module 2, Assignment 3

Find statistics and charts about land prices and average wages in your city or community over the past ten years. Ask real estate companies, government agencies, or university economics departments, find news stories and/or search the internet for this information. If you cannot find the data for land values alone, use housing costs as a proximate. Note if land prices in your area are currently “booming” or “busting” – going up or down.

This diagram shows a drastic increase in the costs of land compared to other costs of housing during a 38 year period in the United States:

Describe how this problem – of land and therefore housing costs increasing faster than wages – affects you and your family and/or friends.