Which best explains why the supply of housing doesn't automatically increase to meet rising demand?

Question

asked Aug 6, 2019 80.8k views

2 Answers

Srdjan Vukmirica · Answer 1 · 2019-08-08T08:27:40+0000

Answer:

The supply of housing can't change very quickly because building houses is expensive and takes a lot of time.

Step-by-step explanation:

Stopfan · Answer 2 · 2019-08-12T07:06:36+0000

Supply of housing doesn't automatically increase to meet rising demand due to various reasons.

1) Price

2) Consumer preference

3) Income