Tamara's New House (A)
This case series simulates the quintessential "American dream:" buying and financing your first house. For most people, buying a house is the largest purchase they will experience in their lifetime. The process has both legal and economic components, and often requires that the buyer rely heavily upon a realtor to navigate all the technicalities. Along the way, the buyer may experience an emotional roller coaster with both the excitement of becoming a homeowner and the worry that comes with making a large financial commitment. Much of the worry comes from a lack of understanding, particularly when we buy that first house without any experience with such a transaction. The primary objective of these cases is to provide the key information needed to understand what is involved with the purchase and financing of a house, and to simulate the process as the students experience the cases in sequence over several class periods.