Is Sale of an old house included/excluded in national income?
Is Sale of an old house included/excluded in national income?
Anurag Pathak Changed status to publish December 9, 2023
No,
It will not be included as it does not result in any production. Its value already included when it was newly constructed.
Explanation:-
The sale of an old house is the second sale.
The value of the house is already included in the national income at the time of the first sale.
If the sale value of the old house is included in the national income it will lead to double counting.
Anurag Pathak Changed status to publish December 9, 2023
