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Demand-Supply and Applications) Anticipating lower interest rates in the near future, many have been trying to buy homes in hopes they can then refinance at
Demand-Supply and Applications) Anticipating lower interest rates in the near future, many have been trying to buy homes in hopes they can then refinance at a later date, and at the same time existing homeowners waiting for lower interest rates are holding on to their current homes. Use the demand and supply framework to analyze the effects on prices and quantities of (1) homes for purchase and (2) rental apartments. Explain graphically and verbally
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