Sustainable development of housing finance markets – An international perspective after the crisis

Friedemann Roy
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Friedemann Roy: World Bank

A chapter in Balanced Growth, 2012, pp 57-74 from Springer

Abstract: Abstract Like Michel Ende’s novel “The Never-ending Story,” it seems that house price bubbles tend to occur at regular intervals. Due to the interlinkages with the banking sector, a bursting property bubble often leads to a banking crisis, damping economic growth and destroying prosperity. The objective is to show the relationship between property and bank lending. The factors which fuel a housing bubble will be discussed and the indicators pointed out that help identify rising house price inflation. In conclusion an analysis is given of the future prospects of property markets in advanced economies and in emerging markets.

Keywords: Interest Rate; House Price; Housing Market; Foreign Currency; Advanced Economy (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-642-24653-1_5

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DOI: 10.1007/978-3-642-24653-1_5

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