The number of new dwellings built in Spain more than doubled between 1997 and 2004. Provisional estimates indicate that the figure might currently be over 800,000. Strikingly, this impressive response of supply to demand has not put a brake on housing prices, which have also doubled in real...

This paper presents a parsimonious model for forecasting and analysing euro area house prices and their interrelations with the macroeconomy. A quarterly vector error correction model is estimated over 1970-2009 using supply and demand forces central to the determination of euro area house...

This paper examines the time varying dispersion in city house price levels across the four biggest euro area countries compared with those in the United States. Using available city-level data over the period 1987-2008, it tests for price convergence and analyses key factors explaining price...

Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income...

Analysis of the real estate sector in Estonia in recent years: multifactor housing demand and housing supply constraints. Was the price right and is it now? What next?

The housing sector was a significant driver of Ireland's growth performance during the last decade, reflecting strong country-specific fundamentals. While supply and demand factors can explain much of the developments of prices during last 27 years, there is evidence of overshooting in the later...

The paper summarises UK house price developments since the mid-1990s and reviews evidence of demand and supply factors that have contributed to the house price boom. Strong growth in UK house prices since 1997 is partly explained by rising average incomes and falls in mortgage interest rates....