3.1 Analysis of an argument
"The average price of an acre of land in the United States is now 50 times what it was in 1970, and nearly 200 times what it was in 1920. The nation's population is projected to keep increasing, even as the amount of land remains constant. Therefore, people who are approaching retirement should invest heavily in real estate in order to ensure their financial security."
The issue of increasing real estate costs is worried over throughout the world. Author of the argument suggests that elders should take this fact seriously and invest in the real estate. Though author may well have some merit in argument, he poorly based his argument on unreasoned premises and on solely unsubstantiated evidence which he offers; We can't accept his argument as it is.
Primary issue of the argument lies in unreasoned premises, there can be multiple reasons which lead to price increase in the real estate, but he claims the main reason that amount of land is constant and population in US is increasing, which is completely without any base. He doesn't provide any figures to represent that. Though the population increase can be one of the reasons there can be major reasons such that, economical growth, industrialization, foreign investments. These reasons relate more directly to the real estate price increase than sole population increase.
Secondary issue lies in the fact that there were times in the history of United States when entire real estate prices collapsed due to various reasons such as 1st world war, economic slowdown in 1929, 2nd world war, and worst economic slowdown of the century in last two years. There are ups and downs in economy which leads to rise and fall in real estate prices, which can't be simple steady increasing graph as the author depicts.
In addition he assumes few things which may be completely unsubstantiated. He assumes that as there was steady growth of real estate in the past it will grow steadily in the future. This can be very risky statement for any investor. Situations such as latest economic slowdown caused tremendous impact on real estate investments lately. There is no evidentiary support of direct logical link between population increase real estate prices increases which he assumes exists.
If author really wants to convince reader with his suggestions, he should provide legitimate evidence to support his claim. With some more research and clarification, author should restructure his argument and remove the flaws; otherwise his argument will not able to convince many.
"The average price of an acre of land in the United States is now 50 times what it was in 1970, and nearly 200 times what it was in 1920. The nation's population is projected to keep increasing, even as the amount of land remains constant. Therefore, people who are approaching retirement should invest heavily in real estate in order to ensure their financial security."
The issue of increasing real estate costs is worried over throughout the world. Author of the argument suggests that elders should take this fact seriously and invest in the real estate. Though author may well have some merit in argument, he poorly based his argument on unreasoned premises and on solely unsubstantiated evidence which he offers; We can't accept his argument as it is.
Primary issue of the argument lies in unreasoned premises, there can be multiple reasons which lead to price increase in the real estate, but he claims the main reason that amount of land is constant and population in US is increasing, which is completely without any base. He doesn't provide any figures to represent that. Though the population increase can be one of the reasons there can be major reasons such that, economical growth, industrialization, foreign investments. These reasons relate more directly to the real estate price increase than sole population increase.
Secondary issue lies in the fact that there were times in the history of United States when entire real estate prices collapsed due to various reasons such as 1st world war, economic slowdown in 1929, 2nd world war, and worst economic slowdown of the century in last two years. There are ups and downs in economy which leads to rise and fall in real estate prices, which can't be simple steady increasing graph as the author depicts.
In addition he assumes few things which may be completely unsubstantiated. He assumes that as there was steady growth of real estate in the past it will grow steadily in the future. This can be very risky statement for any investor. Situations such as latest economic slowdown caused tremendous impact on real estate investments lately. There is no evidentiary support of direct logical link between population increase real estate prices increases which he assumes exists.
If author really wants to convince reader with his suggestions, he should provide legitimate evidence to support his claim. With some more research and clarification, author should restructure his argument and remove the flaws; otherwise his argument will not able to convince many.
