London Luxury-Home Price Gains Slow After Property-Tax Increase - 1 views
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J Hwang on 07 Jun 12-microeconomics -small growth in luxury-home prices in London after the "the government increased a tax on purchases of 2 million pounds ($3.1 million) or more" -consumers must pay more for the same good compared to before - fall in demand -prices of homes/luxury homes were growing -"Europe's debt crisis has prompted overseas investors to acquire real estate in London to preserve their wealth." - homes more scarce, hence increase in price
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J Hwang on 07 Jun 12-use of demand/supply curves to show the increase in demand, then show a less increase in demand after taxing