THE IMPACT OF AVAILABILITY OF FINANCE IN MATURE AND EMERGING REAL MARKETS: A DESK REVIEW OF THE UK, THE US AND BRAZIL

Mahtab Akhavan Farshchi, C. M.P. De Castro and Royer de Oliveira

ERES from European Real Estate Society (ERES)

Abstract: The recent collapse of the sub-prime mortgages in the US has highlighted the intertwined nature of our worldís systems (Farshchi and Rafferty, 2009). The detrimental effects of the exceptional growth of the housing market in the Anglo-Saxon world (i.e., the US and the UK) in the late 2000s driven by low interest rates and as the emerging structural changes in developing economies, e.g., in Brazil have posed new questions for the research community. Using secondary sources, this paper will first examine the historical trends in housing finance, interest rates in the US and UK and then explores the interrelationship between the financial and housing markets in the US, the UK and Brazil with the aim of drawing comparisons and contrasts between policy .

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2010_424

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