Question
The average median 2019 price of a home here in Columbia, SC was around $145,000. That price is not bad at all (surprisingly good!!). The
The average median 2019 price of a home here in Columbia, SC was around $145,000. That price is not bad at all (surprisingly good!!). The interest on the housing loan is roughly 3.92%. Because of quantitative easing by the FED in 2020 and the increase in demand for housing in Columbia created by FED policies, the price of housing in Columbia increased to $160,000 while the rate of interest decreased to 3.89%. You are an urban economic growth professional responsible for forecasting growth projections for the city of Columbia, SC. You need to know the results of the following calculations to adequately evaluate possible growth projections: Based on our numbers, what is the inflation rate of the average price of housing in Columbia, SC from 2019 to 2020? Please note that the numbers for 2020 are hypothetical numbers Produce a graph showing this relationship between FED actions (quantitative easing) and increase in the demand for housing
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