The Essentials of Real Estate Economics textbook outlines direct and practical approaches to wrestling with the factors that cause real estate value to change.  Includes more graphics, revised cash flow analysis, federal income tax rules and coverage of more contemporary topics.  The book is essentially an outgrowth of years of teaching real estate economics at California community colleges and private schools.  The book is especially well-suited for individuals with little or no background in formal economics, providing current information needed by real estate agents, appraisers and investors to complete a successful course in real estate economics.  The format has been retained, although a variety of more controversial subjects have been added, particularly the questions of whether federal and local governments should be involved in neighborhood preservation, and whether or not gated communities serve to worsen class distinctions that represent a new twist on American apartheid.