Housing

Vani Borooah

Chapter 2 in Europe in an Age of Austerity, 2014, pp 13-24 from Palgrave Macmillan

Abstract: Abstract The housing bubble in three European countries with a strong culture of owner-occupation – Spain, Ireland, and the United Kingdom – was a precursor to the recession they experienced from 2008 after 2007. All three countries have very small private-rental sectors and high home ownership rates, defined as the proportion of the total number of residential units in the country that are owner-occupied. The home ownership rate was 78% in Spain (2002), 83% in Ireland (2002), and 69% in the UK (2002); in contrast, it was only 42% in Germany (2002), 49% in the Netherlands (2000), and 55% in France (2000). 1 According to the European Central Bank (ECB) (2006: 65), the share of rent expenditure in the Harmonised Index of Consumer Prices (HICP) for euro area countries was less than 3% for Ireland and Spain, compared to a euro area average of over 6% and a high of 11% for Germany.

Keywords: Gross Domestic Product; House Price; Housing Market; Euro Area; European Central Bank (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-39602-0_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137396020

DOI: 10.1057/9781137396020_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().