Real estate agentA real estate agent, referred to often as a real estate broker, is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency.
Financial crisisA financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults.
Cultural resource managementIn the broadest sense, cultural resource management (CRM) is the vocation and practice of managing heritage assets, and other cultural resources such as contemporary art. It incorporates Cultural Heritage Management which is concerned with traditional and historic culture. It also delves into the material culture of archaeology. Cultural resource management encompasses current culture, including progressive and innovative culture, such as urban culture, rather than simply preserving and presenting traditional forms of culture.
Cultural heritage managementCultural heritage management (CHM) is the vocation and practice of managing cultural heritage. It is a branch of cultural resources management (CRM), although it also draws on the practices of cultural conservation, restoration, museology, archaeology, history and architecture. While the term cultural heritage is generally used in Europe, in the US the term cultural resources is in more general use specifically referring to cultural heritage resources.
Cultural heritageCultural heritage is the heritage of tangible and intangible heritage assets of a group or society that is inherited from past generations. Not all heritages of past generations are "heritage"; rather, heritage is a product of selection by society. Cultural heritage includes tangible culture (such as buildings, monuments, landscapes, archive materials, books, works of art, and artifacts), intangible culture (such as folklore, traditions, language, and knowledge), and natural heritage (including culturally significant landscapes, and biodiversity).
AusterityIn economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to borrow or meet their existing obligations to pay back loans.
Great RecessionThe Great Recession was a period of marked general decline observed in national economies globally, i.e. a recession, that occurred from late 2007 to 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations.
Real estateReal estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (eg. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general. In terms of law, real is in relation to land property and is different from personal property while estate means the "interest" a person has in that land property.
1997 Asian financial crisisThe 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided.
2007–2008 financial crisisThe 2007–2008 financial crisis, or Global Financial Crisis (GFC), was a severe worldwide economic crisis that occurred in the early 21st century. It was the most serious financial crisis since the Great Depression (1929). Predatory lending targeting low-income homebuyers, excessive risk-taking by global financial institutions, and the bursting of the United States housing bubble culminated in a "perfect storm". Mortgage-backed securities (MBS) tied to American real estate, as well as a vast web of derivatives linked to those MBS, collapsed in value.
Cultural diversityCultural diversity is the quality of diverse or different cultures, as opposed to monoculture. It has a variety of meanings in different contexts, sometimes applying to cultural artefacts like music recordings or art works in museums, and sometimes applying to the variety of human cultures or traditions in a specific region, or in the world as a whole. It can also refer to the inclusion of different cultural perspectives in an organization or society.
Real-estate bubbleA real-estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom. A land boom is a rapid increase in the market price of real property such as housing until they reach unsustainable levels and then declines. This period, during the run-up to the crash, is also known as froth.
TourismTourism is travel for pleasure or business, and the commercial activity of providing and supporting such travel. The World Tourism Organization defines tourism more generally, in terms which go "beyond the common perception of tourism as being limited to holiday activity only", as people "travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure and not less than 24 hours, business and other purposes".
Heritage tourismCultural heritage tourism (or just heritage tourism) is a branch of tourism oriented towards the cultural heritage of the location where tourism is occurring. The National Trust for Historic Preservation in the United States defines heritage tourism as "traveling to experience the places, artifacts and activities that authentically represent the stories and people of the past", and "heritage tourism can include cultural, historic and natural resources".
ArchitectureArchitecture is the art and technique of designing and building, as distinguished from the skills associated with construction. It is both the process and the product of sketching, conceiving, planning, designing, and constructing buildings or other structures. The term comes ; ; . Architectural works, in the material form of buildings, are often perceived as cultural symbols and as works of art. Historical civilizations are often identified with their surviving architectural achievements.
Cross-cultural communicationCross-cultural communication is a field of study investigating how people from differing cultural backgrounds communicate, in similar and different ways among themselves, and how they endeavor to communicate across cultures. Intercultural communication is a related field of study. During the Cold War, the economy of the United States was largely self-contained because the world was polarized into two separate and competing powers: the East and the West.
History of architectureThe history of architecture traces the changes in architecture through various traditions, regions, overarching stylistic trends, and dates. The beginnings of all these traditions is thought to be humans satisfying the very basic need of shelter and protection. The term "architecture" generally refers to buildings, but in its essence is much broader, including fields we now consider specialized forms of practice, such as urbanism, civil engineering, naval, military, and landscape architecture.
Sustainable tourismSustainable tourism is a concept that covers the complete tourism experience, including concern for economic, social and environmental issues as well as attention to improving tourists' experiences and addressing the needs of host communities. Sustainable tourism should embrace concerns for environmental protection, social equity, and the quality of life, cultural diversity, and a dynamic, viable economy delivering jobs and prosperity for all. It has its roots in sustainable development and there can be some confusion as to what "sustainable tourism" means.
Real estate developmentReal estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction or housebuilding, although many developers also manage the construction process or engage in housebuilding.
Real estate appraisalReal estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value). Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a centralized Walrasian auction like a stock exchange is unrealistic). The location also plays a key role in valuation.
