Economics- Homebuilding Industry?

Can someone give me examples of the positive and negative externalities of homebuilding industry? Would the transactions of the buyer and seller directly affect a third party? I believe that it would but am unsure of the externalities thyat are associated with homebuilding.

Answer:
It's not clear to me that there are always externalities associated with home building, though it's not hard to imagine instances where there are. For example, suppose that you own a tract of land adjacent to a tract that is purchased by a developer. This might create a positive externality if the value of your land is increased by this event and you are not harmed by development on the adjacent tract. On the other hand, it might also create a negative externality if development on the adjacent tract makes your land worth less to you (e.g., you enjoy the land because it is isolated but it no longer will be after development on the adjacent tract).

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