Housing Markets and the Global Financial Crisis

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.

Housing Markets and the Global Financial Crisis

Author: Ray Forrest

Publisher: Edward Elgar Publishing

ISBN: 1849805849

Page: 260

View: 788

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.

Global Housing Markets

This is an appropriate time to pull together the lessons from these various experiences.

Global Housing Markets

Author: Ashok Bardhan

Publisher: John Wiley & Sons

ISBN: 0470647140

Page: 564

View: 194

A global look at the reasons behind the recent economiccollapse, and the responses to it The speculative bubble in the housing market began to burst inthe United States in 2007, and has been followed by ruptures invirtually every asset market in almost every country in the world.Each country proposed a range of policy initiatives to deal withits crisis. Policies that focused upon stabilizing the housingmarket formed the cornerstone of many of these proposals. Thisinternationally focused book evaluates the genesis of the housingmarket bubble, the global viral contagion of the crisis, and thepolicy initiatives undertaken in some of the major economies of theworld to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals withthe housing sector in addition to the financial sector ofindividual economies. Countries in many parts of the world wereplayers in either the financial bubble or the housing bubble, orboth, but the degree of impact, outcome, and responses variedwidely. This is an appropriate time to pull together the lessonsfrom these various experiences. Reveals the housing crisis in the United States as the core ofthe meltdown Describes the evolution of housing markets and policies in therun-up to the crisis, their impacts, and the responses in Europeanand Asian countries Compares experiences and linkages across countries and pointsto policy implications and research lessons drawn from theseexperiences Filled with the insights of well-known contributors with strongcontacts in practice and academia, this timely guide discusses thehistory and evolution of the recent crisis as local to eachcontributor's part of the world, and examines its distinctive andcommon features with that of the U.S., the trajectory of itsevolution, and the similarities and differences in policyresponse.

The Global Financial Crisis and Housing

This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two.

The Global Financial Crisis and Housing

Author: Susan Wachter

Publisher: Edward Elgar Publishing

ISBN: 178347288X

Page: 368

View: 823

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

Fixing the Housing Market

""This is an engaging, nontechnical, accessible, and cogent set of analyses for fixing the housing market. The authors provide an elegant, compelling, insightful, and timeless evaluation of how to resolve the current housing crisis.

Fixing the Housing Market

Author: Franklin Allen

Publisher: Pearson Prentice Hall

ISBN: 0137011601

Page: 195

View: 846

Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.

Econometric Analyses of International Housing Markets

The quartile regression's subprime dummy was negative and significant,
indicating that the averse impact of the financial crisis on housing prices. 8.7
Conclusion The subprime financial crisis had a negative impact on many
countries.

Econometric Analyses of International Housing Markets

Author: Rita Yi Man Li

Publisher: Routledge

ISBN: 1317587928

Page: 198

View: 301

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.

Urban Planning and the Housing Market

This book re-examines the role of urban policy and planning in relation to the housing market in an era of global uncertainty and change.

Urban Planning and the Housing Market

Author: Nicole Gurran

Publisher: Springer

ISBN: 1137464038

Page: 435

View: 280

This book re-examines the role of urban policy and planning in relation to the housing market in an era of global uncertainty and change. The relationship between planning and the housing market is a contested problem across research, policy, and practice. Problems with housing supply and affordability in many nations have been linked to planning system constraints, while the global financial crisis has raised new questions about the role of urban planning regulation and processes in responding to housing market trends. With reference to international cases from the United Kingdom, the United States, Ireland, Hong Kong and Australia, the book examines how different systems of urban planning and governance address complex and dynamic housing market trends. It also offers practical guidance on how urban planning can support an efficient supply of appropriate and affordable homes in preferred locations. A detailed study, which explains and decodes the workings of the planning system and housing market, this book will be of particular interest to scholars of human geography and urban planning, as well as housing policy makers and practitioners. To view Nicole Gurran’s related TEDx talk please visit: Housing Crisis? How about housing solutions. TEDx Sydney 2018 (http://bit.ly/2psfpMw)

The Global Financial Crisis

While effective measures have been taken to stabilize the financial system , the
housing market problems , for a variety of reasons detailed in this chapter , has
been more difficult to address . The second part of the chapter details consumer ...

The Global Financial Crisis

Author: Hal S. Scott

Publisher:

ISBN:

Page: 184

View: 792

This timely book offers a cutting-edge view of the global financial crisis by exploring the various statutory, regulatory, and policy responses to it. It focuses on the most recent developments and underlying policy issues. It is a valuable tool for anyone looking to understand the legal and regulatory factors implicated in the ongoing global credit crisis.

Real Estate and Globalisation

This book is based on a series of briefings on the relationship between macro economic events and real estate markets in the era of globalisation that covered the period.

Real Estate and Globalisation

Author: Richard Barkham

Publisher: John Wiley & Sons

ISBN: 1118351665

Page: 336

View: 408

2000 to 2010 was a remarkable decade for real estate. It startedwith the dot.com bubble and ended with the putative recovery fromthe Great Financial Crisis. The period in-between featured theworld's first coordinated real estate boom and slump. This book isbased on a series of briefings on the relationship between macroeconomic events and real estate markets in the era of globalisationthat covered the period. Collectively they offer unique insights,new ideas and practical approaches to real estate economics,grounded in the day-to-day realities of investment, development andfund management operations in a leading international propertycompany. All the briefings are based on research conducted by asophisticated in-house research team with expertise inmacroeconomics, urban economics, financial economics andeconometrics, led by a well- known specialist in the field. Thetopics highlight the relationship between real estate markets andglobal economic and political events – an area not wellcovered by academic journals. A compelling introduction considers the dramatic boom and slumpin real estate values that led up to the Great Financial Crisis.The briefings are then presented, grouped into broad themes: macroeconomics and real estate; GDP, recessions and inflation; REITs;construction; Asia; retail, offices and housing markets; theformation of investment yields. A final chapter considers themedium-term future for real estate in the context of the ongoingfinancial crisis. Topics span the key sectors of office, retail and residentialreal estate in over 40 countries, with a focus on private sectorinvestment, development and management. The perspective is longterm, reflecting Grosvenor's unique position in real estate as aprivately owned group. The author provides a commentary on each topic, giving contextto the research and the implications for strategy, drawing out twounifying themes: the effect of globalisation; and the importance ofmacro economics and geo-politics in real estate research. Together, the briefings offer a penetrating analysis of realestate markets in the era of globalisation and financial crises.The era of crises is far from over, and Real Estate andGlobalisation provides invaluable insights for propertyprofessionals worldwide – developers, occupiers, investmentanalysts and planners – on the nature of the processes thatcreate such intense property market volatility. The book is also aunique source of guidance on practical property research for finalyear undergraduates and postgraduates on property courses, as wellin geography, planning, architecture, and construction.

Hot Property

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.

Hot Property

Author: Rob Nijskens

Publisher: Springer

ISBN: 3030116743

Page: 221

View: 778

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.

Law Economics and Finance of the Real Estate Market

The symbiosis between the law, economics and finance is evidenced in our daily lives. This book elucidates the relationship between these factors in Singapore and Hong Kong in direct and indirect real estate market.

Law  Economics and Finance of the Real Estate Market

Author: Rita Yi Man Li

Publisher: Springer Science & Business Media

ISBN: 364254245X

Page: 146

View: 859

The symbiosis between the law, economics and finance is evidenced in our daily lives. This book elucidates the relationship between these factors in Singapore and Hong Kong in direct and indirect real estate market. In Singapore, for example, there is an inseparable relationship between law, economics, finance and the HDB market. The book also showcases the concept of invitation to treat and offer, monetary compensation for environmental externalities under the lens of institutional economics. It also sheds light on the relationship between financial crisis, regulations, housing prices and indirect real estate market.

The First Global Financial Crisis of the 21st Century

As the boom progresses and inflationary pressure builds up , central banks
inevitably tighten policy to trigger the ensuing crash . The story is similar for
housing . Stockmarket crashes have serious real consequences through wealth
effects and ...

The First Global Financial Crisis of the 21st Century

Author: Andrew Felton

Publisher: Centre for Economic Policy Research

ISBN:

Page: 193

View: 841

"Highlights how losses in the US subprime market had spread beyond the confines of the US mortgage sector and the borders of the United States, how risk spreads had ballooned and liquidity in some markets had dried up forcing large financial institutions to report significant losses. Bank runs were no longer the stuff of history." - Cover.

The Financialization of Housing

It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.

The Financialization of Housing

Author: Manuel B. Aalbers

Publisher: Routledge

ISBN: 1317361792

Page: 158

View: 890

Due to the financialization of housing in today’s market, housing risks are increasingly becoming financial risks. Financialization refers to the increasing dominance of financial actors, markets, practices, measurements and narratives. It also refers to the resulting structural transformation of economies, firms, states and households. This book asserts the centrality of housing to the contemporary capitalist political economy and places housing at the centre of the financialization debate. A global wall of money is looking for High-Quality Collateral (HQC) investments, and housing is one of the few asset classes considered HQC. This explains why housing is increasingly becoming financialized, but it does not explain its timing, politics and geography. Presenting a diverse range of case studies from the US, the UK, the Netherlands, Germany, Italy and Spain, the chapters in this book include coverage of the role of the state as the driver of financialization processes, and the part played by local and national histories and institutions. This cutting edge volume will pave the way for future research in the area. Where housing used to be something "local" or "national", the two-way coupling of housing to finance has been one crucial element in the recent crisis. It is time to reconsider the financialization of both homeownership and social housing. This book will be of interest to those who study international economics, economic geography and financialization.

The Impact of the Global Financial Crisis on Housing Finance

This increase clearly showed US housing bubble burst and eventually led to that
the housing market was becoming a severe domestic financial crisis which soon
oversupplied and possibly overheated . “ The spread across the world .

The Impact of the Global Financial Crisis on Housing Finance

Author:

Publisher: Un Habitat

ISBN: 9789211323337

Page: 80

View: 430

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.

Expanding Housing Finance to the Underserved in South Asia

Market Review and Forward Agenda Tatiana Nenova. More recent regulations ,
linked to the aftermath of the global financial crisis , have brought about a slew of
liquidity and other support for housing finance institutions , not all of which is ...

Expanding Housing Finance to the Underserved in South Asia

Author: Tatiana Nenova

Publisher: World Bank Publications

ISBN:

Page: 332

View: 315

A vibrant housing finance market is an important pillar of economic prosperity. A strong institutional framework is indispensable for a functioning housing finance market. Home affordability is a fundamental challenge in South Asia and can only be solved by a comprehensive approach involving developers, the traditional financial sector, microfinance, and other innovative approaches experienced in recent years. Abdul Fitrat Governor, Da Afghanistan Bank The government's policies for the housing sector, particularly in the South Asian countries, must focus on "inclusive housing" coupled with "stability of the market." The two objectives are mutually complementary, reinforcing each other. Stability inspires the stakeholders to enhance their participation and enables greater institutional and financial deepening of the sector, both of which are necessary conditions for inclusive housing. R.V. Verma Managing Director, National Housing Bank, India The global financial crisis demonstrated the importance of a strong, disciplined, and honest mortgage market. As we learn our lessons, it is critically important that those who have been closed out of the housing sector do not get closed out again. In South Asian and Pacific countries, we hope that a balance can be found between discipline and access. Ira Peppercorn Former Deputy Federal Housing Commissioner, United States Housing markets in South Asia are undergoing a dynamic intermediate stage of their development, ranging from an incipient institutional framework in Afghanistan to a dynamic developing housing finance system in India. International experiences-including such examples as Malaysia, Mexico, the Republic of Korea, Singapore, and Thailand-provide many useful lessons and examples in building institutions, enabling markets, and expanding housing finance outreach to the middle- and lower-income groups. Narayanasamy Kokularupan Former CEO of Cagamas Berhad, Malaysia

Crash and Beyond

Explores the multiple roots of the crisis, including the build-up of global economic imbalances, the explosion in the use of novel financial instruments, the mismanagement of risk, and the specific roles played by housing and debt.

Crash and Beyond

Author: Andrew Farlow

Publisher: Oxford University Press

ISBN: 019957801X

Page: 418

View: 580

Explores the multiple roots of the crisis, including the build-up of global economic imbalances, the explosion in the use of novel financial instruments, the mismanagement of risk, and the specific roles played by housing and debt.

U S Housing Market Conditions

Rents are increasing 3 to 5 percent annually and, for the most part, are back to
prerecession levels. Additions to the ... New York City's commercial real estate
market continues to be strong despite the impact of the global financial crisis.
During ...

U S  Housing Market Conditions

Author:

Publisher:

ISBN:

Page:

View: 513

Dynamics of Housing in East Asia

This book is the first to evaluate the organisation, behaviour and performance of six major East Asian real estate markets.

Dynamics of Housing in East Asia

Author: Bertrand Renaud

Publisher: John Wiley & Sons

ISBN: 0470672668

Page: 352

View: 308

This book is the first to evaluate the organisation, behaviour and performance of six major East Asian real estate markets. It offers a unique analysis of the growth and transformation of the real estate sector across East Asia. The authors examine the interactions between volatility in the sector and the overall stability of the economy, in particular during the Asia financial crisis of 1997-98, and the global financial crisis of 2008-09. draws on the best available theoretical and empirical literature applies analytic tools in the context of East Asian institutions and policies helps understand factors affecting resilience and stability in East Asian real estate markets.