Final answer:
The most commonly cited reason for not renewing real estate listings is price-related issues. These can include factors like desired sales price not being met, reflecting the first rule of economics about opportunity costs. Discrimination in the housing market, as shown by the HUD study, can also affect listings and renewals. Hence, option (c) is correct.
Step-by-step explanation:
The most mentioned reason by owners for NOT renewing listings is often price-related issues. This rationale is supported by the dynamics of the real estate market, where pricing can be a critical factor for both sellers and buyers. Price-related issues might include unrealistically high expectations by sellers or an inability to find buyers at the desired price point, which can lead to a lack of listing renewals.
For instance, price ceilings in the rental market can illustrate how price controls impact housing quality. The first rule of economics is that everything has an opportunity cost, suggesting that if renters acquire housing for less than the market rate, it may come with a trade-off such as lower quality housing due to landlords spending less on maintenance and essentials.
Additionally, discrimination in real estate practices has been highlighted in a study by the Housing and Urban Development (HUD) department, wherein different racial groups are shown varying numbers of properties. Such discriminatory practices can further complicate the listing and selling process. Price-related issues stand out as they are directly related to the economic and market-driven aspects of listing renewals.