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Housing Search Trade-Off - Coggle Diagram
Housing Search Trade-Off
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Sustainability
Environmental pollution caused by traffic as a result of commute time. This can be reduced by shorter commute time or more use of public transportation.
Intervention
The government can adjust housing prices or provide other public transportation to help people reduce commute time
Interdependence
The customer's demand for housing and the company's housing prices are directly related. When customers' demand for housing continues to increase, housing companies will set higher prices for housing to increase profits.
Scarcity
Housing close to work is limited, but people’s demand for these housing is increasing (unlimited). This results in the supply of housing not fulfilling the demand.
Change
Changes in economic factors may affect people's choices. For example, the inflation of prices on cars, gasoline, and maintenance. These factors may overweigh the housing prices.