CA State Real Estate Study Guide (1) 2023

Capitalism - ANSWER-an economic system in which most of the economies resources are privately owned Net worth - ANSWER-the value of all assets minus all liabilities Appreciation - ANSWER-the increase in market value of real estate Inflation - ANSWER-the increase in the general price level of goods and services Median home price - ANSWER-the price that is middle value of a sample of sales, with one-half of the sales below and one-half of the sales above Demographics - ANSWER-information from a variety of sources used to create a broad profile of any community Gold rush - ANSWER-a large migration of people to a newly discovered gold field Housing inventory - ANSWER-housing units that are available for sale or in the process of being made ready for sale C.A.R. (California Association of REALTORS) - ANSWER-a California trade association representing REALTORS statewide Unemployment rate - ANSWER-the percentage of people classified as unemployed as compared to the total labor force Megalopolis - ANSWER-large, densely populated metropolitan area consisting of a number of major urban areas and smaller surrounding cities Affordability index - ANSWER-shows how many households will be able to afford a median-priced home in California California's economy is so large that it actually competes with - ANSWER-countries The most populous state in the country is - ANSWER-California A large, densely populated metropolitan area consisting of a number of major urban areas and smaller surrounding cities is called a - ANSWER-metropolis