Property Pursuit

Worksheet Description

This is a worksheet that delves into the mechanics of the housing market through the lens of supply and demand. It uses the metaphor of a neighborhood hunt to explain how the number of houses available (supply) and the number of people looking to buy (demand) interact to influence house prices. The worksheet describes various scenarios that could occur in a neighborhood, such as a surplus of houses with few interested buyers, or the opposite, and asks students to consider the outcomes. The narrative format guides students through understanding these economic principles as they apply to real estate.

This educational tool is aimed at teaching students the fundamental economic principles of supply and demand using the context of house hunting. It illustrates how an abundance of supply with little demand can keep prices low, while high demand with limited supply can drive prices up. Students learn that real estate markets strive for equilibrium where supply matches demand, and they explore how imbalances can create opportunities or challenges for buyers and sellers. The worksheet is designed to help students comprehend these dynamics, which are essential for making informed decisions in the housing market and understanding economic fluctuations in their community and beyond.