Rationale Analysis of recent housing supply and demand trends, and of the factors contributing to them, is extremely useful to detect the emergence or existence of imbalances in the housing market, which is characterised by long lead times for house building. Takeaways •After the initial...

The transition into homeownership is becoming increasingly difficult for first-home buyers. In this paper we measure the deposit requirements and the transaction costs associated with purchasing a home for the first time, and whether a reduction in stamp duty obligations will help potential...

Property is a dual good. It provides both a variety of housing services and, sometimes, investment returns. Premiums are paid for a complex bundle of relative advantages, risks, and opportunities within idiosyncratic, complex, and evolving metropolis. Factors beyond the urban footprint influence...

Many analysts believe that problems in the United States housing market initiated the 2007-2009global financial crisis. In this regard, the subprime mortgage crisis (SMC) shook the foundationsof the financial industry by causing the failure of many iconic Wall Street investment banks...

It has been widely assumed that there was a bubble in the U.S. housing market after1999.This paper analyzes the extent to which that was true. We define a bubble as: (1) a regime shift that is characterized by a change in the properties of deviations from the fundamentals of house price growth,...

This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and non-marketbased service, house...

Over the last decade house prices increased remarkably in many countries. However, while in several countries there was an employment boom in the construction sector, in others the share of employment in this sector did not significantly change. In this paper we estimate a model of labor demand...

En este trabajo utilizamos un modelo VAR estructural con parámetros variables en el tiempo y volatilidad estocástica para investigar si la Reserva Federal ha respondido sistemáticamente a los precios de los activos y si esta respuesta ha cambiado con el tiempo. Para recuperar el componente...

Artículo de revista ; The ratio between the amount of mortgage loans and the value of housing (the loan to value ratio) is a useful indicator for studying the financial situation of households. Two main price indicators are used to measure loan to value ratios for housing in Spain at the time...

El reciente aumento de los precios de la vivienda en China a nivel nacional oculta una gran variación a nivel de ciudades, una característica que ha pasado relativamente desapercibida en la literatura de las políticas macroprudenciales. Este artículo se enfoca en medir la heterogeneidad en...