Szczecin, Poland

Real Estate Market

Rynek nieruchomości

Master's
Language: PolishStudies in Polish
Subject area: economy and administration
Kind of studies: full-time studies
University website: usz.edu.pl/en/english
Market
Market (economics)
Real Estate
Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing." It is a legal term used in jurisdictions whose legal system is derived from English common law, such as India, the United Kingdom, United States, Canada, Pakistan, Australia, and New Zealand.
Market
Economists' usual list begins with distribution of income. There is no reason to believe that the distribution of income that emerges out of market processes is desirable or acceptable. Unbridled market forces without any role of government might lead to a large number of people living under subsistence. This is an area for government to do something. We know that unbridled economic forces can lead to big booms and big recessions. We need to do something about that. We know that a market can lead to pollution -- and there's an important role for government there. We know that there will be under-investment in public goods. As we think about the innovation economy, we should remember that most of the innovation in the private sector is based on research financed by the government, such as its role in developing the Internet.
Joseph Stiglitz, on question "In what sphere of life, if any, do you think it most important to limit the influence of market forces?", in "Nobel Laureates Offer Views on the Economy", Wall Street Journal (Sept. 3, 2004)
Market
The market, over time, is its own worst enemy. Indeed, the valiant and ultimately successful efforts of New Dealers to set American capitalism back on its feet were most vigorously opposed by many of their eventual beneficiaries. But although market failure may be catastrophic, market success is just as politically dangerous. The task of the state is not just to pick up the pieces when an under-regulated economy bursts. It is also to contain the effects of immoderate gains. After all, many Western industrial countries were doing extraordinarily well in the era of Edwardian social reform: in the aggregate, they were growing fast and wealth was multiplying. But the proceeds were ill-distributed and it was this more than anything which led to calls for reform and regulation.
Tony Judt, Ill Fares the Land (2010), Ch. 6 : The Shape of Things to Come
Market
A market is a group of buyers and sellers of a particular good or service. The buyers as a group determine the demand for the product, and the sellers as a group determine the supply of the product. Markets take many forms. Some markets are highly organized, such as the markets for many agricultural commodities. In these markets, buyers and sellers meet at a specific time and place, where an auctioneer helps set prices and arrange sales. More often, markets are less organized. For example, consider the market for ice cream in a particular town. […] Nonetheless, these consumers and producers of ice cream are closely connected.
N. Gregory Mankiw, Principles of Economics (6th ed., 2012), Ch. 4. The Market Forces of Supply and Demand
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