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Real estate in the Netherlands : a taxonomy of risks and policy challenges

Geis, André; Luca, Oana - 2021

Soaring real estate prices and valuations despite the economic downturn brought by the pandemic have focussed the attention of Dutch policymakers on potential macro-financial and socio-economic implications. In this context, our paper reviews the salient features of Dutch commercial and...

Persistent link: https://www.econbiz.de/10012605499

Latin America : vulnerabilities under construction?

Cubeddu, Luis; Tovar, Camilo Ernesto; Tsounta, Evridiki - 2012

This paper documents developments in mortgage credit and the housing sector in Latin America over the past decade, and … compares them with those of other emerging economies. In particular, it examines the real estate and mortgage markets to assess … whether (i) growth in mortgage credit is excessive compared to long-term trends; (ii) trends in house prices reflect changes …

Persistent link: https://www.econbiz.de/10009620961

Do lenders make less-informed investments in high-growth housing markets?

Chen, Sophia; Ratnovski, Lev; Sun, Yangfan - 2021

Nonlocal mortgage lenders with greater exposure to high-growth housing markets accept fewer loan applications in these … lenders' exposure to high-growth markets is associated with more risk, more efficiency, and more return on mortgage portfolios …

Persistent link: https://www.econbiz.de/10012612342

Non-primary home buyers, shadow banking, and the US housing market

Alter, Adrian; Dernaoui, Zaki - 2020

This paper studies the US housing market using a proprietary and comprehensive dataset covering nearly 90 million residential transactions over 1998-2018. First, we document the evolution of different types of investment purchases such as those conducted by short-term buyers, out-of-state...

Persistent link: https://www.econbiz.de/10012301958

Stabilizing China's housing market

Koss, Richard A.; Shi, Xinrui - 2018

macroeconomic policies to address these concerns. This paper looks at proposals to shore up the mortgage underwriting and legal …

Persistent link: https://www.econbiz.de/10012252749

Incomplete financial markets and the booming housing sector in China

Bayoumi, Tamim A.; Zhao, Yunhui - 2020

Housing is by far the most important asset in Chinese households' balance sheets. However, despite forceful and frequent government interventions, the rise in Chinese housing prices has not been contained as much as intended, a trend that has not been reversed by the COVID-19 shock. In this...

Persistent link: https://www.econbiz.de/10012485938

House price synchronicity, banking integration, and global financial conditions

Alter, Adrian; Dokko, Jane; Seneviratne, Dulani - 2018

We examine the relationship between house price synchronicity and global financial conditions across 40 countries and about 70 cities over the past three decades. The role played by cross-border banking flows in residential property markets is examined as well. Looser global financial conditions...

Persistent link: https://www.econbiz.de/10011978387

The costs of macroprudential deleveraging in a liquidity trap

Chen, Jiaqian; Finocchiaro, Daria; Lindé, Jesper; … - 2020

We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing transaction costs and a zero-lower bound constraint on policy rates. We find that the long-term...

Persistent link: https://www.econbiz.de/10012251966

Commercial real estate and macrofinancial stability during COVID-19

Deghi, Andrea; Mok, Junghwan; Tsuruga, Tomohiro - 2021

The COVID-19 pandemic crisis has severely shocked the commercial real estate (CRE) sector, which could have important implications for macro-financial stability going forward because of the large size of the sector and its strong interconnectedness with the real economy. Using a novel...

Persistent link: https://www.econbiz.de/10012796227

Guyana : housing market and implications for macroprudential policies

Chow, Julian T. S. - 2020

Guyana's residential real estate prices have been rising, particularly in the capital city Georgetown, following the discovery of oil in 2015. In line with the growing demand for housing, commercial banks' housing loans have increased, prompting higher household debt. This paper presents two...

Persistent link: https://www.econbiz.de/10012170146

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