Econ assignment
Storyboard Text
- John was stunned an furious at the real estate agent for the price of the house. He had thought she was trying to scam him.
- John had got caught making noise and playing games again. His mother was furious and confronted him about his behaviour
- But, Mom! I have been studying hard for the majority of my life. Just let me have my fun.
- You're spending too much time playing games. I know you finished University and got your CPA certification, but I still own this house. I can't sleep with all the ruckus you're causing!
- I'm tired of living in my parents home. I'm going to move out into my own place and do whatever I want.
- The next day John went to a open house down the street from his home. He met a lovely real estate agent.
- Yes, I need to move out from my parents home. They live down the street and got their house for a decent price a few years ago.
- Hi there. Are you looking to purchase this huge home for yourself.
- Yes this house is reasonably priced at $2 million.
- Do you take me for a fool? That price is absurd. My parents bought a home similar to this on the street for $500 thousand a few years ago.
- The price is the result of the economy performing well in this country. Everyone wants to own their own home and so the demand is greater than the supply. Builder's can not keep up with the demand and so house prices are going higher. The monopolistic housing market is a booming market.
- What is a monopolistic market?
- It is when there are many sellers who sell products that are slightly different from each other. Houses are all have different characteristics from each other.
- I'm never going to be able to afford a house at this rate. Time to go move into my mom's basement.
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