Specific Expectations
By the end of the program, students will:
Real Estate Concepts
F1.2 Explain why real estate is valuable, highlighting its intrinsic and appreciative qualities.
Teacher supports:
- Use real-life examples to illustrate the intrinsic value of real estate, emphasizing its role in providing shelter, space, and resources for various purposes.
- Discuss factors that contribute to the appreciation of real estate, such as location, demand, and development.
Examples:
- Intrinsic Value:
- Shelter: Homes provide a fundamental need for individuals and families.
- Space: Commercial buildings offer spaces for businesses and services.
- Resources: Vacant land can be developed to create new opportunities and resources.
- Appreciative Qualities:
- Location: Real estate in desirable locations tends to appreciate more rapidly.
- Demand: Properties in high-demand areas may see increased value over time.
- Development: Infrastructure improvements and neighborhood development can positively impact property values.
Key concepts:
- Real estate is valuable not only for its practical uses (intrinsic value) but also for its potential to increase in value over time (appreciative value).
- Factors such as location, demand, and development play crucial roles in determining the value of real estate.
Note:
Understanding the value of real estate is essential for making informed decisions in the Monopoly Game program, where students will simulate real estate transactions and experience the impact of various factors on property values.
Sample tasks:
- Facilitate a discussion about the essential roles real estate plays in providing shelter, space, and resources. Encourage students to share examples from their communities.
- In the Monopoly Game, present scenarios where students must consider the intrinsic and appreciative value of properties before making strategic decisions. Discuss how these factors impact the overall success in the game.
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