The nature of the real estate financing relationship includes all of the following EXCEPT

a$.$ collateral.

b$.$ leverage.

c$.$ disintermediation.

d$.$ hypothecation.

In finance, leverage is applied to

a$.$ pay cash.

b$.$ avoid payments.

c$.$ use your savings.

d$.$ use others' savings.

Through July $2018,$ the total of U$.$S$.$ mortgages outstanding on all types of property exceeded

a$.$ $$1$ trillion.

b$.$ $$10$ trillion.

c$.$ $$5$ trillion.

d$.$ $$13$ trillion.

All of the following qualities of real estate contribute to its being the perfect collateral for a loan EXCEPT

a$.$ being fixed in place.

b$.$ salability.

c$.$ permanent construction.

d$.$ unique location.

Local real estate markets are MOST affected by

a$.$ oil embargoes.

b$.$ zoning decisions.

c$.$ open$-$housing laws.

d$.$ welfare payments.