Gross Domestic Product (GDP)
Definition of "Gross Domestic Product (GDP)"
Measure of the value of all goods and services produced by the economy within its boundaries and is the nation's broadest gauge of economic health. GDA is often a measure of the state of the economy. Experts look upon other measures such as housing and construction activity, unemployment rate, corporate profits, and retail sales to look for a sign of recession.
Popular Real Estate Terms
The term agricultural property means a type of land that has been designed or is permitted to engage in agricultural activities. Also referred to as agricultural land, agricultural ...
property suitable for residential living, such as a house, duplex, apartment, mobile home, or condominium. ...
An enticingly attractive initial rate below the market offered in an adjustable rate mortgage. For example, the teaser rate may be offered at 2% below market. A borrower who cannot qualify ...
Adding a period of time onto another. An examples a mortgagor who successfully restructures his loan by tacking another five years onto the term. ...
The rate, usually expressed annually, charged on money borrowed or lent. The interest rate may be variable or fixed. The higher the risk, the higher the interest rate. Mortgage interest ...
Performance of a complete inventory of real property within a jurisdiction. A cadastral program produces the cadastral map. ...
One of the parties is unable to satisfy the conditions of the purchase and sale contract. ...
Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be issued by a financially sound borrower with an excellent credit rating because no ...
Any of a number of types of covenants agreeing to do or not to do something that is attached to the title and is passed form one owner to the next. See also covenant running with the land. ...
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