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Нажимая кнопку "Продолжить", я принимаю политику конфиденциальности

  1) What is real estate?  

  2) What is the term "real estate" used for?

  3) Do brokers buy and sell and appraise fix value?

  4) Real estate is a significant and essential component of the national economy‚ isn’t it?

  5) What has implications for the relative returns of real estate versus other investments?

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 2. Find the English equivalent s of the following Russian

 phrases in the text .

1) Термин, появившийся в средневековье;   

2) менеджер объекта недвижимости; 

3) важный и обязательный компонент;    

4) запасы площади;   

5) собственность на землю.

Fill in the gaps with the words from the box.

Each word can be used only once.

firms persons today economic produce purchase estate implications property term

 

1) "Real __________," also called "real property," is a __________

that developed in medieval times.

2) The __________ "real estate" is used today to refer to land and the __________ on it.

3) Another set of __________ is involved with the financing of real estate purchases or rentals and mortgage issues for __________.

4) For the nation’s __________ it represents the supply of space necessary to __________ goods and services.

5) The relationship between real estate and __________ growth also has __________ for the relative returns of real estate versus other investments.

 

Circle the Odd Word Out.

1) Building, mineral, oil;

2) brokers‚ managers, mortgages;

3) buy‚ call‚ sell;

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 4) land, property, tree;

5) implication‚ important‚ relationship.

 

Translate the sentences into Russian

 using reflexive pronouns.

1) I can do it myself!

2) This manager never speaks about him self.

3) We will solve this problem ourselves.

4) Be careful! Don’t hurt yourself!

5) The real estate itself has many advantages.

 

Text

Real Estate Market

Real estate markets can best be described by imperfect information; the players do not know the locations or the reservation prices of their potential trading partners. This lack of information compels each player to engage in search activity in order to find a trading partner. Once two players have contacted each other‚ they bargain over the price of the house. There is a linkage between the bargaining stage and the search stage of the game‚ in that the price a player expects to emerge from  the  bargaining  process  will affect his

choice of search intensity.

The equilibrium search intensities of the seller and the buyer are smaller when the house is listed with a broker. The seller receives a higher price when he employs a broker‚ but the increase in price is smaller than the commission fee.

Research on real estate by urban economists has concentrated almost entirely on the markets for space‚ while research on real estate by financial economists has concentrated almost entirely on the real estate capital markets. The price of real estate is typically viewed as being determined solely in the capital market (where investors demand real estate as capital asset)‚ whereas rent levels and vacancy rates are viewed as being determined solely in the space market (where potential users demand space). A more general view‚ however‚ considers the interaction between these two markets and is needed to correctly interpret changes in these two separate (but dependent) markets.

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The integration of urban and financial economic research that will be achieved with the general approach should offer a better understanding of the markets in general.

 

Exercises

Answer the following questions.

  1) What can best be described by imperfect information?  

  2) Whom does the lack of information compel to engage in search activity?

  3) When are the equilibrium search intensities of the seller and the buyer smaller?

  4) Is the increase in price smaller than the commission fee?

  5) Do the price of real estate is typically viewed as being determined solely in the capital market or not?

 2. Find the English equivalent s of the following Russian

Phrases in the text .

1) Предполагаемые торговые партнёры;       

2) участвовать в  розыскном действии; 

3) высокая стоимость;

4) этап ведения переговоров и этап поиска;   

5) наилучшее понимание рынка.