Unemployment
Definition of "Unemployment"
The nonavailability of jobs for people able and willing to work at the prevailing wage rate. It is important measure of economic health, since full employment is generally constructed as a desired goal. As firms fail and as individuals struggle, mortgages and other loans go unpaid. This causes real estate values to go down and hurts lenders. Loan defaults rise.
Popular Real Estate Terms
A mortgage where the payments are overdue and open to a foreclosure action at any time. A mortgage not having a prepayment clause permitting the mortgagor to repay the mortgage at any ...
When we talk about agency as a real estate concept, we understand the relationship between the real estate agent and the client. However, the term dual agency defines a type of agency that ...
The definition of alienation in real estate stands for the legal action that is done voluntarily by an owner to dispose of their property. It also encompasses a property’s right to be ...
Money paid for a real estate project or investment that can be taken off on the tax return as an expense. Expenditures made during construction of a building that do not go directly into ...
One who donated or gives a gift or bequest. ...
Holding and controlling property. It includes not only custody but also having some legal right. An example is occupying real property and enjoying its benefits. ...
A building having one house hold on the first floor and a second household on the second floor. ...
Map delineating property values over a designated area. Land value maps are usually developed by a governmental planning agency. ...
Also called an installment sales contract or contract foe feed. A type of creative financing in real estate allowing the seller to finance a buyer by allowing him or her to make a down ...
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