We talk about sustainability, livability, and land use to describe a project, but we often avoid the profitability, capital gains, and externalities that go along with them simply because we don’t know how to use the terms. Architecture doesn’t exist outside of the economy and in fact, how we build each building directly affects the economy of our cities.

We talk about sustainability, livability, and land use to describe a project, but we often avoid the profitability, capital gains, and externalities that go along with them simply because we don’t know how to use the terms. Architecture doesn’t exist outside of the economy and in fact, how we build each building directly affects the economy of our cities.As a profession, architecture acts as the mediator between different specialties, and it is very important to speak the official language of each of them. This article will help you easily understand some basic economic concepts that relate to architecture.Real EstateGoods that have a fixed position in space and cannot move. So land, buildings, farms or other types of constructions (basically, architecture). Community SpaceProperty whose enjoyment is not unique to an individual. Parks and public spaces fall under this category. Housing BubbleExcessive and unjustified increase in real estate values, usually caused by speculation. The housing bubble of 2008 was caused by speculation as a result of fictitious mortgage payments (people pai...