high level of household leverage and housing prices could prove to be a source of vulnerability. The rebound in debt and …Canadian housing prices are higher than levels consistent with current fundamentals in some provinces. The empirical … estimates suggest that a 10 percent decline in housing prices would lead to a 1¼ percent decline in private consumption. The …

Spain’s housing boom was supported by rapid economic expansion, strong employment growth, an immigration boom, and … 2010, employment and value added in construction are projected to halve as peak housing starts are completed. The …, housing market cyclicality could be reduced by fading out generous home ownership incentives. …

This Selected Issues paper for the United States discusses the microeconomics of the country—household wealth and …

-correction model that describes the dynamics of real housing prices since the 1970s. Estimation results suggest that earnings and …This Selected Issues paper examines the factors determining housing prices in the United Kingdom. Based on econometric … evidence, the paper assesses whether recent housing price increases can be explained by fundamentals or whether they represent …

.Given persistently low real interest rates, lack of alternative investment and mortgage-to-GDP trend, rapid property price growth in …

This technical note assesses the vulnerabilities of household and corporate sector balance sheets and quantifies the … Spanish financial stability arising from household indebtedness. The analysis expands the use of microlevel data to assess … household vulnerabilities, distinguishing between indebted and nonindebted households as well as accounting for the allocation …

favorable global financing conditions to boost home ownership and acquire housing wealth. It reviews trends in labor supply and …