Final answer:
HUD focuses on three main business areas: supporting home ownership and property purchase, overseeing public and affordable housing programs, and enforcing fair housing policies. Financial institutions and zoning regulations also significantly influence real estate transactions.
Step-by-step explanation:
The U.S. Department of Housing and Urban Development (HUD) plays a vital role in the real estate market and involves various business areas. Primarily, HUD focuses on three business areas:
Providing support for home ownership and property purchase
Overseeing the public and affordable housing programs
Enforcing fair housing policies
When it comes to home ownership, HUD offers programs that help individuals acquire homes by insuring mortgages, making it easier for buyers to secure loans. This is crucial since owning property can be a significant financial asset, but it also involves costs like maintenance and property taxes.