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The recent boom in new home construction has finally begun to taper of
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27 May 2021, 21:12
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Question 1
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50% (01:30) correct
50% (01:40) wrong based on 22 sessions
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The recent boom in new home construction has finally begun to taper off. Developers are not buying land, contractors are finding themselves going without work for longer periods, and banks are issuing fewer mortgages. People must not be as interested in buying new homes as they were even six months ago.
Which of the following indicates a flaw in the reasoning above?
(A) Interest rates for home mortgages have increased significantly over the past six months. (B) The average size of a new home has increased significantly over the past several years. (C) Sales of condominiums have increased over the past six months. (D) The cost of materials such as lumber and cement has decreased over the past year. (E) Sales of other big-ticket items, such as automobiles and boats, has remained steady over the past year.
Re: The recent boom in new home construction has finally begun to taper of
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28 May 2021, 12:28
1
Expert Reply
The correct answer is A.
The conclusion of the argument is that "people must not be as interested in buying new homes as they were even six months ago." Why? Because of several factors (developers not buying land, contractors without work, banks issuing fewer mortgages) that the author assumes result from the supposed lack of interest in buying new homes. Choice A suggests, though, that there may be an alternative explanation for all of those factors: interest rates are too high for most people. So even though they remain interested in buying homes, they simply cannot afford to do so and the whole housing market has slumped accordingly.
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Re: The recent boom in new home construction has finally begun to taper of
[#permalink]
29 May 2021, 00:28
The correct answer is A.
The conclusion of the argument is that "people must not be as interested in buying new homes as they were even six months ago." The only choice that suggests that the people are interested but they think it is not affordable to them is option choice A. All the other choices support or strengthen the reasoning.