Word: Unearned Increment
Definition:
"Unearned increment" is a noun that refers to an increase in the value of property that a person gains without doing anything to deserve it. This rise in value happens because of factors in the market or the community, not because of the owner's actions.
Usage Instructions:
You can use "unearned increment" when discussing real estate, property values, or economics. This term is often used in discussions about how property values can rise due to general market trends, improvements in the neighborhood, or changes in demand, rather than improvements made by the property owner.
Example Sentence:
After the new shopping mall was built nearby, the unearned increment in the value of my house was significant, even though I hadn't made any renovations.
Advanced Usage:
In economic discussions, "unearned increment" can be used to critique systems where individuals profit from rising property values without contributing to the development or improvement of the area.
Word Variants:
- The term can be broken down into "unearned" (not earned; received without effort) and "increment" (an increase or addition). - There are no direct variants of "unearned increment," but related terms include "capital gain" (profit from the sale of property or investments).
Different Meanings:
While "unearned increment" specifically refers to property value increases, the word "unearned" alone can apply to any situation where someone receives something without effort. For example, "unearned income" refers to money received without working for it, such as interest or dividends.
Synonyms:
- Windfall (a sudden gain or advantage) - Speculative gain (profit from an investment based on speculation rather than actual performance) - Capital appreciation (increase in the value of an asset over time)
Idioms and Phrasal Verbs:
There aren’t specific idioms or phrasal verbs that use "unearned increment," but you might use phrases like "cash in on" when discussing taking advantage of rising property values.
Summary:
"Unearned increment" is a useful term in discussions about property values and economics. It highlights how people's fortunes can change due to external market factors rather than their own efforts.