Housing Markets And The Global Financial Crisis

Author : Ray Forrest,Ngai Ming Yip
Publisher : Edward Elgar Publishing
Page : 273 pages
File Size : 52,6 Mb
Release : 2011-01-01
Category : Political Science
ISBN : 9781849805841

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Housing Markets and the Global Financial Crisis by Ray Forrest,Ngai Ming Yip Pdf

The impacts of the so-called global crisis are, in fact, highly uneven for both households and institutions. This unique book investigates why this is the case, whilst emphasizing the consequences. It encompasses the experiences of all the major economies, including: Australia, China, Hong Kong, Hungary, Iceland, Ireland, Japan, New Zealand, the Netherlands, South Korea, the USA, the UK and Vietnam, highlighting and comparing a wide range of housing systems and crisis impacts. Housing Markets and the Global Financial Crisis will strongly appeal to academics and postgraduate students in social policy, urban studies, public policy, economics, sociology and human geography. In addition, anyone with a general interest in globalization, neoliberalism and the changing nature of contemporary capitalist societies, as well as those with particular interests in housing markets and housing policy, will find this book enriching and enlightening.

Author : Ashok Bardhan,Robert H. Edelstein,Cynthia A. Kroll
Publisher : John Wiley & Sons
Page : 576 pages
File Size : 52,5 Mb
Release : 2011-10-27
Category : Business & Economics
ISBN : 9781118144237

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Global Housing Markets by Ashok Bardhan,Robert H. Edelstein,Cynthia A. Kroll Pdf

A global look at the reasons behind the recent economic collapse, and the responses to it The speculative bubble in the housing market began to burst in the United States in 2007, and has been followed by ruptures in virtually every asset market in almost every country in the world. Each country proposed a range of policy initiatives to deal with its crisis. Policies that focused upon stabilizing the housing market formed the cornerstone of many of these proposals. This internationally focused book evaluates the genesis of the housing market bubble, the global viral contagion of the crisis, and the policy initiatives undertaken in some of the major economies of the world to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals with the housing sector in addition to the financial sector of individual economies. Countries in many parts of the world were players in either the financial bubble or the housing bubble, or both, but the degree of impact, outcome, and responses varied widely. This is an appropriate time to pull together the lessons from these various experiences. Reveals the housing crisis in the United States as the core of the meltdown Describes the evolution of housing markets and policies in the run-up to the crisis, their impacts, and the responses in European and Asian countries Compares experiences and linkages across countries and points to policy implications and research lessons drawn from these experiences Filled with the insights of well-known contributors with strong contacts in practice and academia, this timely guide discusses the history and evolution of the recent crisis as local to each contributor's part of the world, and examines its distinctive and common features with that of the U.S., the trajectory of its evolution, and the similarities and differences in policy response.

Author : Susan Wachter,Man Cho,Moo Joong Tcha
Publisher : Edward Elgar Publishing
Page : 368 pages
File Size : 41,5 Mb
Release : 2014-02-28
Category : Business & Economics
ISBN : 9781783472888

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The Global Financial Crisis and Housing by Susan Wachter,Man Cho,Moo Joong Tcha Pdf

This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two. Through what transmission channels do housing market cycles influence broader economic systems? How

Author : Anonim
Publisher : Un Habitat
Page : 90 pages
File Size : 46,6 Mb
Release : 2011
Category : Financial crises
ISBN : UCLA:L0106423627

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The Impact of the Global Financial Crisis on Housing Finance by Anonim Pdf

The Global Urban Economic Dialogue series presented here is a platform for all sectors of the society to address urban economic development and particularly its contribution to addressing housing issues. This work carries many new ideas, solutions and innovative best practices from some of the world's leading urban thinkers and practitioners from international organisations, national governments, local authorities, the private sector, and civil society.

Author : Ms.Deniz Igan,Mr.Prakash Loungani
Publisher : International Monetary Fund
Page : 56 pages
File Size : 52,7 Mb
Release : 2012-08-01
Category : Business & Economics
ISBN : 9781475505672

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Global Housing Cycles by Ms.Deniz Igan,Mr.Prakash Loungani Pdf

Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements. Empirical analysis shows that house price dynamics are mostly driven by income and demographics but fluctuations in these fundamentals and credit conditions can create deviations from the implied equilibrium path. We conclude with a discussion of the macroeconomic implications of house price corrections.

Author : Rita Yi Man Li,Kwong Wing Chau
Publisher : Routledge
Page : 198 pages
File Size : 49,6 Mb
Release : 2016-03-31
Category : Business & Economics
ISBN : 9781317587910

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Econometric Analyses of International Housing Markets by Rita Yi Man Li,Kwong Wing Chau Pdf

This book explores how econometric modelling can be used to provide valuable insight into international housing markets. Initially describing the role of econometrics modelling in real estate market research and how it has developed in recent years, the book goes on to compare and contrast the impact of various macroeconomic factors on developed and developing housing markets. Explaining the similarities and differences in the impact of financial crises on housing markets around the world, the author's econometric analysis of housing markets across the world provides a broad and nuanced perspective on the impact of both international financial markets and local macro economy on housing markets. With discussion of countries such as China, Germany, UK, US and South Africa, the lessons learned will be of interest to scholars of Real Estate economics around the world.

Author : Colin Jones,Michael White,Neil Dunse
Publisher : John Wiley & Sons
Page : 337 pages
File Size : 50,7 Mb
Release : 2012-05-29
Category : Law
ISBN : 9780470672334

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Challenges of the Housing Economy by Colin Jones,Michael White,Neil Dunse Pdf

This timely book addresses key challenges faced by policy makers and the house-building industry in a post-credit crunch world. It examines the implications for households, the housing market, the economy, as well as for government's policy choices. Challenges of the Housing Economy: an international perspective brings together experts from around the world to examine recent housing market trends. The contributions reveal common long-term trends in housing markets worldwide. Despite differences in supply conditions and the role of planning, there is a trend toward rising house prices that has created significant barriers to home ownership for young households while increasing the wealth of older generations. The financial crisis had a differential impact on housing markets but in many countries where mortgage finance became severely constrained, house prices fell and there was a dramatic fall in housing construction. The falls in house prices in these countries have ostensibly improved affordability but the housing markets have been dominated by the lowering of loan to values applicable to new mortgages which has further raised the hurdles to potential first-time purchasers. At the same time as young households are increasingly rationed out of owner-occupation, public sector expenditure cut-backs in many countries result in limited new social housing. Instead, value for money imperatives will mean new funding models for affordable housing that require greater use of public-private partnerships. The private rented sector could potentially meet the demand for the new generation of long-term renters. However, there are doubts - in the UK at least - that this sector will be able to expand significantly or provide an appropriate type and standard of housing. This is an essential advanced text for students and researchers of land economy and land management; property and real estate; housing policy; and urban studies.

Author : Rob Nijskens,Melanie Lohuis,Paul Hilbers,Willem Heeringa
Publisher : Springer
Page : 220 pages
File Size : 48,6 Mb
Release : 2019-06-14
Category : Business & Economics
ISBN : 9783030116743

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Hot Property by Rob Nijskens,Melanie Lohuis,Paul Hilbers,Willem Heeringa Pdf

This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.

Author : Koichi Mera,Bertrand Renaud
Publisher : Routledge
Page : 309 pages
File Size : 52,5 Mb
Release : 2016-07-08
Category : Business & Economics
ISBN : 9781315499994

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Asia's Financial Crisis and the Role of Real Estate by Koichi Mera,Bertrand Renaud Pdf

This book by a distinguished academic and a professional economist from the World Bank clearly demonstrates the significant role played by the real estate sector in inducing the Asian crisis; the linkage of the real estate sector to the general economy; the causes of real estate booms and subsequent busts; and the economic costs of real estate price volatility. The book also includes suggestions for moderating such volatility in the future.

Author : Steven B. Kamin
Publisher : DIANE Publishing
Page : 62 pages
File Size : 54,7 Mb
Release : 2010
Category : Electronic
ISBN : 9781437939125

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How Did a Domestic Housing Slump Turn into a Global Financial Crisis? by Steven B. Kamin Pdf

Author : Holly Dolezalek
Publisher : ABDO
Page : 114 pages
File Size : 44,9 Mb
Release : 2011-08-01
Category : Juvenile Nonfiction
ISBN : 9781617876493

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Global Financial Crisis by Holly Dolezalek Pdf

This title examines an important historic event - the modern global financial crisis. Easy-to-read, compelling text explores the impact of the failing housing market and the credit crisis in the United States, the US government bailouts of banks, automakers, and other businesses, issues around financial regulation and the US Federal Reserve, the spread of financial problems to Europe, Japan, and China, and the effects of this event on society. Features include a table of contents, a timeline, facts, additional resources, Web sites, a glossary, a bibliography, and an index. Essential Events is a series in Essential Library, an imprint of ABDO Publishing Company.

Author : Edward L. Glaeser,Todd Sinai
Publisher : University of Chicago Press
Page : 443 pages
File Size : 42,6 Mb
Release : 2013-08-19
Category : Business & Economics
ISBN : 9780226030616

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Housing and the Financial Crisis by Edward L. Glaeser,Todd Sinai Pdf

Conventional wisdom held that housing prices couldn’t fall. But the spectacular boom and bust of the housing market during the first decade of the twenty-first century and millions of foreclosed homeowners have made it clear that housing is no different from any other asset in its ability to climb and crash. Housing and the Financial Crisis looks at what happened to prices and construction both during and after the housing boom in different parts of the American housing market, accounting for why certain areas experienced less volatility than others. It then examines the causes of the boom and bust, including the availability of credit, the perceived risk reduction due to the securitization of mortgages, and the increase in lending from foreign sources. Finally, it examines a range of policies that might address some of the sources of recent instability.

Author : Loic Chiquier,Michael J. Lea
Publisher : World Bank Publications
Page : 540 pages
File Size : 53,8 Mb
Release : 2009
Category : Social Science
ISBN : 9780821377512

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Housing Finance Policy in Emerging Markets by Loic Chiquier,Michael J. Lea Pdf

Housing finance markets have been changing dramatically in both emerging and developed economies. On the one hand, housing finance markets are expanding and represent a powerful engine for economic growth in many emerging economies. However, the unfolding sub-prime mortgage crisis highlights the risks and potential turbulence that this sector can introduce into the financial system when expanding without proper infrastructure and regulation. As housing finance keeps growing in emerging economies to match a rising demand for housing, new risk management approaches, business models, funding tools, and policy instruments can help. Yet many questions remain about the right balance between innovation and regulation, the extent of risks to the financial system, the appropriate role of the state to promote affordable housing, and the effects of the sub-prime crisis. This book provides a guide for policymakers dealing with housing finance in emerging markets. It highlights the prerequisites for an effective housing finance system; it lays out several policy alternatives and models of housing finance; and it explores the role of governments in expanding access to housing finance for lower-income households. There is no "best" model set out in this book. The aim is to provide a developmental roadmap that can be tailored and sequenced to each country's situation and timing.

Author : Franklin Allen,James Barth,Glenn Yago
Publisher : Prentice Hall
Page : 214 pages
File Size : 44,7 Mb
Release : 2012-01-30
Category : Business & Economics
ISBN : 9780132619394

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Fixing the Housing Market by Franklin Allen,James Barth,Glenn Yago Pdf

Ever since the ancient Greeks, financial innovation has enabled more people to purchase homes. Today is no different: in fact, responsible financial innovation is now the best tool available for "rebooting" crippled housing markets, improving their efficiency, and making housing more accessible to millions. In Fixing the Housing Market, three leading experts explain how, covering everything decision-makers should know about today’s housing and financial markets. The authors first explain how innovative housing financial products, services and institutions evolved through the 19th century, World War I, the Great Depression, World War II, and beyond -- culminating in the post-1970s era of securitization. Next, they assess housing finance systems in mature economies during and after the recent crisis, highlighting benefits and risks associated with each widely-used mortgage funding structure and product. They also carefully assess current housing finance structures in emerging economies such as Brazil, Russia, India, and China. Building on these insights, the authors introduce transformative financial innovations that can facilitate a more stable and sustainable financing system for housing -- providing better shelter for more people, helping the industry recover, and creating thousands of new jobs. Using these new tools, entrepreneurs, economic development specialists, and policymakers can develop practical strategies for bridging funding gaps -- raising more capital for longer terms at lower cost.

Author : Robert J. Shiller
Publisher : Princeton University Press
Page : 224 pages
File Size : 44,9 Mb
Release : 2012-09-24
Category : Business & Economics
ISBN : 9780691156323

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The Subprime Solution by Robert J. Shiller Pdf

A best-selling economist reveals the origins of the subprime mortgage crisis and puts forward bold measures to resolve it by restructuring the institutional foundations of the financial system in a thoughtful study by the author of Irrational Exuberance. First serial, The Atlantic.