Economics Homework Help

VIT Housing Market Diagram Discussion

 

I’m trying to study for my Economics course and I need some help to understand this question.

Using a supply and demand diagram, draw the market for housing. If buyers and

sellers expect future house prices to increase, holding all other factors unchanged, show

the effect on current equilibrium price and quantity. Please label all axes and curves, and

show any shifts in the demand and/or supply curves.