Answer to Question #235155 in English for penny

Question

In this year 2020, an outbreak of disease hit the global economy.

The economy is greated impacted worldwide.

Explain and THREE (3) factors affecting the demand for new housing in your country.  

Answer 1

Factors affecting the demand for new housing in my country are;

• High Rents- The increase in rents in recent years has increased the desire of many renters to buy a home instead of renting.
• Lower interest rates- The decline in the standard home loan interest rates increased the amount that households could borrow and so gave them the ability to bid up house prices.
• Availability of credit facilities- Home loans have become easier to obtain and credit is available to all potential borrowers who can afford the repayments.  The greater availability of credit has fueled the aspirations of first home buyers.