Synchronization of Housing Cycles: An International Perspective

Konrad Zelazowski

ERES from European Real Estate Society (ERES)

Abstract: Housing markets were traditionally considered to be driven by domestic factors. However liberalization of capital flows, expansion real estate financial instruments and progressive integration of national economies significantly changed this tendency. In a globalised economy national housing markets tend to move together and their price cycles have become more synchronized.The aim of the paper is to provide comprehensive analysis of the causes and consequences of housing cycles and the major mechanisms of their synchronization. The extent of synchronization of housing cycles across developed countries is also verified.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2016-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2016_313

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