MARKETRATE HOUSINGS Meaning and
Definition
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Market rate housing refers to residential properties that are priced according to the current market conditions and are not subject to any income-based subsidies or government price controls. These housing units are typically owned and operated by private developers or landlords who set the rent or sales price based on factors such as location, property size, amenities, and prevailing market conditions.
Unlike affordable housing units, market rate housing does not have any income restrictions or eligibility requirements for tenants or buyers. This means that anyone who meets the landlord's or seller's criteria and can afford the asking price can live in market rate housing.
The term "market rate" emphasizes that the price or rent of these properties is determined by the forces of supply and demand in the housing market. If there is a high demand for housing in a particular area and limited supply, it can drive up the market rate for housing, resulting in higher prices. Conversely, if there is an oversupply of housing, the market rate may decrease.
Market rate housing can encompass a wide range of properties, from single-family homes to apartments, condominiums, and townhouses. It is an essential component of any housing market as it provides options for individuals and families who can afford to pay market prices for housing without needing income-based assistance.
Common Misspellings for MARKETRATE HOUSINGS
- narketrate housings
- karketrate housings
- jarketrate housings
- mzrketrate housings
- msrketrate housings
- mwrketrate housings
- mqrketrate housings
- maeketrate housings
- madketrate housings
- mafketrate housings
- matketrate housings
- ma5ketrate housings
- ma4ketrate housings
- marjetrate housings
- marmetrate housings
- marletrate housings
- maroetrate housings
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- markwtrate housings
Etymology of MARKETRATE HOUSINGS
The word "market rate housing" does not have a specific etymology as it is a combination of two separate words: "market" and "rate". However, we can examine the origins of each word:
1. Market: The word "market" originated from the Latin word "mercatus", which refers to a public place where goods are bought and sold. It entered Old English as "mearcet" or "mearcete" and eventually evolved into "market" in Middle English.
2. Rate: The word "rate" has its roots in the Latin word "rata", which means "reckoned or fixed". It was later adapted into Old French as "rate" and eventually came into English.
When combining these words, "market rate housing" refers to the cost or price of housing that is based on the current market conditions.
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