Goodbye, Kingsley Hills Housing Project. 

   Our presentation has ended. Throughout the whole process, from the beginning to the end, I've learned a lot from this project. I've learned how to socialise with friends, mix around and work with friends to make our project the best project ever. At first, I was not really used to a small number of people in my class. I was not very close with my friends, at one point I thought that I should change class, since most of the people left our class. 

   But now, I'm very thankful that I did not end up in another class, I'm very thankful for this small number of people, where you can see everyone in one glance. Everyone was serious about this project, as they knew it carries marks. Each and everyone of us put lots of effort and hard work on this project. Everyone did the survey. The duty was divided equally among everyone, everyone had something to do. Some decorated, some wrote stuffs, some did the cutting, some paste the papers on it, some did the calculations, some presented in front of the class. Anyhow, no matter big or small, everyone contributed to make this project successful. Besides, I'm also thankful to have such a great group leader- Catherine. She is very responsible, very hardworking, very helpful. She would try her best to help us in all ways. She consistently encourages all members in our group, eventhough she seemed stressful, but that never stops her from guiding us to do the project. 

   From the start to the end, everyone has been corporating with each other. Although at times there were some disargreements and different opinions, we chose to listen to one another, instead of shouting and make things worse. From there, we chose the best decision and we have learned to respect and accept other people's decisions and opinions. On the other hand, this project was totally new to us, in high school we have never done anything like that. It was a great experience to be able to work together as a group. 

   The other classes' presentation was really an eye opener to me. They were really creative, had lots of cool ideas. I love their videos, it made the audience laughed. Although ours was a bit dull, but the points were well delivered. I have gained a lot of experience, through other people's presentations. It made me think out of the box, realizing that I have so much more to learn from them. 

   As long as you have the heart, and you're willing to learn, learn and continue learning; ask, ask and continue asking about the questions that we're unsure about it; seek, seek and continue seeking for advices; we can achieve our goal, because nothing is impossible, and everything is possible ! :)

Reflection on Kingsley Hills Housing Project

   So today, 4/3/2013, our class (PL1) did a presentation on Kingsley Hills Housing Project. Our presentation covers factors influencing the demand of a good of service, factors influencing the supple of a good or service, explaination and calculation of price elasticity of demand (PED), income elasticity of demand (YED), cross elasticity of demand (XED),  evaluations and limitations. What have I learned today?

     What do poeple look into when buying a real estate property? According to the survey, most people chose whether the price is affordable or not as the most important factor of demand. To me, I think price is very important to me. If I like this house which costs around 3millions but I do not have the money to buy it, in other words it is not affordable by me, I would have to give up on that, even though I really want the house. The survey states that availability of loans is the least important factor. Well, when the price is affordable, poeple do not need loans from the bank. Loans can sometimes be at a disadvantage because of the high interest rates, for instance.

   We have also learnt about factors affecting supply. One of it was experience. It can be the company's experience in dealing with the project. For example, an experienced business man would take greater risk in buying more lands. When he has more lands, the supply will be higher, thus he'd be able to develop the housing project and expand it. Next, the cost of production is also one of the factors affecting supply. The price of getting the building materials and supplies required also play a role in deciding the quantity of housing project that should be supplied.

   From other classes’ presentation, they mentioned about economic ‘boom period’ and the downfall of economic. True enough, during boom period, when economic rises, people can afford to buy more, buy what they desire. But the sad thing is, economic recession will cause people to cut down on stuffs which they desire to buy. Even for the wealthy ones, I think they will also cut down on what they’ve been spending all this while.

   Not to forget, there are limitations as well. Limitation can be the change in demand and supply conditions. As everyone know, housing property development takes a very long time. There’s like the piping system, renovations and all. Because of these, some people might change their minds, they wouldn’t wanna invest in Kingsley Housing Project anymore. Also, the result from the survey is inaccurate, it does not represent the society, the people doing the survey might not be honest about it.