Housing and Housing Finance: The View from Australia and Beyond

Luci Ellis

RBA Research Discussion Papers from Reserve Bank of Australia

Abstract: This paper draws together themes from work at the RBA, other national central banks, the BIS and elsewhere on recent developments in housing and housing finance. The general conclusion is that financial and macroeconomic developments have increased the demand for the stock of housing. Because the stock of housing is inherently slow to adjust, this has increased its relative price. Although this is a global trend, individual country institutions have affected outcomes, sometimes in ways that are not obvious. The resulting expansion in both sides of the household balance sheet is an important development for policy-makers to monitor, but it is probably not of itself a cause of financial instability.

Keywords: housing; housing finance; economic geography; cross-country (search for similar items in EconPapers)
JEL-codes: E21 E44 R21 (search for similar items in EconPapers)
Date: 2006-12
New Economics Papers: this item is included in nep-mac and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (28)

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Persistent link: https://EconPapers.repec.org/RePEc:rba:rbardp:rdp2006-12

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