Housing Markets and the Global Financial Crisis

Housing Markets and the Global Financial Crisis

The impacts of the so-called global crisis are, in fact, highly uneven for both households and institutions. This unique book investigates why this is the case, whilst emphasizing the consequences.

Author: Ray Forrest

Publisher: Edward Elgar Publishing

ISBN: 9781849805841

Category: Political Science

Page: 260

View: 798

The impacts of the so-called global crisis are, in fact, highly uneven for both households and institutions. This unique book investigates why this is the case, whilst emphasizing the consequences. It encompasses the experiences of all the major economies, including: Australia, China, Hong Kong, Hungary, Iceland, Ireland, Japan, New Zealand, the Netherlands, South Korea, the USA, the UK and Vietnam, highlighting and comparing a wide range of housing systems and crisis impacts. Housing Markets and the Global Financial Crisis will strongly appeal to academics and postgraduate students in social policy, urban studies, public policy, economics, sociology and human geography. In addition, anyone with a general interest in globalization, neoliberalism and the changing nature of contemporary capitalist societies, as well as those with particular interests in housing markets and housing policy, will find this book enriching and enlightening.
Categories: Political Science

Global Housing Markets

Global Housing Markets

This is an appropriate time to pull together the lessons from these various experiences.

Author: Ashok Bardhan

Publisher: John Wiley & Sons

ISBN: 9781118144237

Category: Business & Economics

Page: 576

View: 975

A global look at the reasons behind the recent economiccollapse, and the responses to it The speculative bubble in the housing market began to burst inthe United States in 2007, and has been followed by ruptures invirtually every asset market in almost every country in the world.Each country proposed a range of policy initiatives to deal withits crisis. Policies that focused upon stabilizing the housingmarket formed the cornerstone of many of these proposals. Thisinternationally focused book evaluates the genesis of the housingmarket bubble, the global viral contagion of the crisis, and thepolicy initiatives undertaken in some of the major economies of theworld to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals withthe housing sector in addition to the financial sector ofindividual economies. Countries in many parts of the world wereplayers in either the financial bubble or the housing bubble, orboth, but the degree of impact, outcome, and responses variedwidely. This is an appropriate time to pull together the lessonsfrom these various experiences. Reveals the housing crisis in the United States as the core ofthe meltdown Describes the evolution of housing markets and policies in therun-up to the crisis, their impacts, and the responses in Europeanand Asian countries Compares experiences and linkages across countries and pointsto policy implications and research lessons drawn from theseexperiences Filled with the insights of well-known contributors with strongcontacts in practice and academia, this timely guide discusses thehistory and evolution of the recent crisis as local to eachcontributor's part of the world, and examines its distinctive andcommon features with that of the U.S., the trajectory of itsevolution, and the similarities and differences in policyresponse.
Categories: Business & Economics

The Global Financial Crisis and Housing

The Global Financial Crisis and Housing

This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two.

Author: Susan Wachter

Publisher: Edward Elgar Publishing

ISBN: 9781783472888

Category: Business & Economics

Page: 368

View: 126

This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two. Through what transmission channels do housing market cycles influence broader economic systems? How
Categories: Business & Economics

Real Estate and Globalisation

Real Estate and Globalisation

This book is based on a series of briefings on the relationship between macro economic events and real estate markets in the era of globalisation that covered the period.

Author: Richard Barkham

Publisher: John Wiley & Sons

ISBN: 9781118351666

Category: Business & Economics

Page: 336

View: 923

2000 to 2010 was a remarkable decade for real estate. It startedwith the dot.com bubble and ended with the putative recovery fromthe Great Financial Crisis. The period in-between featured theworld's first coordinated real estate boom and slump. This book isbased on a series of briefings on the relationship between macroeconomic events and real estate markets in the era of globalisationthat covered the period. Collectively they offer unique insights,new ideas and practical approaches to real estate economics,grounded in the day-to-day realities of investment, development andfund management operations in a leading international propertycompany. All the briefings are based on research conducted by asophisticated in-house research team with expertise inmacroeconomics, urban economics, financial economics andeconometrics, led by a well- known specialist in the field. Thetopics highlight the relationship between real estate markets andglobal economic and political events – an area not wellcovered by academic journals. A compelling introduction considers the dramatic boom and slumpin real estate values that led up to the Great Financial Crisis.The briefings are then presented, grouped into broad themes: macroeconomics and real estate; GDP, recessions and inflation; REITs;construction; Asia; retail, offices and housing markets; theformation of investment yields. A final chapter considers themedium-term future for real estate in the context of the ongoingfinancial crisis. Topics span the key sectors of office, retail and residentialreal estate in over 40 countries, with a focus on private sectorinvestment, development and management. The perspective is longterm, reflecting Grosvenor's unique position in real estate as aprivately owned group. The author provides a commentary on each topic, giving contextto the research and the implications for strategy, drawing out twounifying themes: the effect of globalisation; and the importance ofmacro economics and geo-politics in real estate research. Together, the briefings offer a penetrating analysis of realestate markets in the era of globalisation and financial crises.The era of crises is far from over, and Real Estate andGlobalisation provides invaluable insights for propertyprofessionals worldwide – developers, occupiers, investmentanalysts and planners – on the nature of the processes thatcreate such intense property market volatility. The book is also aunique source of guidance on practical property research for finalyear undergraduates and postgraduates on property courses, as wellin geography, planning, architecture, and construction.
Categories: Business & Economics

Global Housing Markets

Global Housing Markets

JWBT546-c18 JWBT546-Bardhan September 18, 2011 11:58 Printer Name:
Hamilton 400 Global Housing Markets Over the past two decades or so, the
Korean economy has been hit by two major crises, the Asian financial crisis that
broke out ...

Author: Ashok Bardhan

Publisher: John Wiley & Sons

ISBN: 9780470647141

Category: Business & Economics

Page: 564

View: 835

A global look at the reasons behind the recent economiccollapse, and the responses to it The speculative bubble in the housing market began to burst inthe United States in 2007, and has been followed by ruptures invirtually every asset market in almost every country in the world.Each country proposed a range of policy initiatives to deal withits crisis. Policies that focused upon stabilizing the housingmarket formed the cornerstone of many of these proposals. Thisinternationally focused book evaluates the genesis of the housingmarket bubble, the global viral contagion of the crisis, and thepolicy initiatives undertaken in some of the major economies of theworld to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals withthe housing sector in addition to the financial sector ofindividual economies. Countries in many parts of the world wereplayers in either the financial bubble or the housing bubble, orboth, but the degree of impact, outcome, and responses variedwidely. This is an appropriate time to pull together the lessonsfrom these various experiences. Reveals the housing crisis in the United States as the core ofthe meltdown Describes the evolution of housing markets and policies in therun-up to the crisis, their impacts, and the responses in Europeanand Asian countries Compares experiences and linkages across countries and pointsto policy implications and research lessons drawn from theseexperiences Filled with the insights of well-known contributors with strongcontacts in practice and academia, this timely guide discusses thehistory and evolution of the recent crisis as local to eachcontributor's part of the world, and examines its distinctive andcommon features with that of the U.S., the trajectory of itsevolution, and the similarities and differences in policyresponse.
Categories: Business & Economics

The Impact of the Global Financial Crisis on Housing Finance

The Impact of the Global Financial Crisis on Housing Finance

This work carries many new ideas, solutions and innovative best practices from some of the world's leading urban thinkers and practitioners from international organisations, national governments, local authorities, the private sector, and ...

Author:

Publisher: Un Habitat

ISBN: 9211323339

Category: Financial crises

Page: 80

View: 530

The Global Urban Economic Dialogue series presented here is a platform for all sectors of the society to address urban economic development and particularly its contribution to addressing housing issues. This work carries many new ideas, solutions and innovative best practices from some of the world's leading urban thinkers and practitioners from international organisations, national governments, local authorities, the private sector, and civil society.
Categories: Financial crises

The Global Financial Crisis

The Global Financial Crisis

Describes the global financial crisis that began in 2006 which was actually two crises in one, a financial and banking crisis, and resulted in what is sometimes called the Great Recession.

Author: Holly Dolezalek

Publisher: ABDO

ISBN: 9781617831003

Category: Juvenile Nonfiction

Page: 112

View: 360

Describes the global financial crisis that began in 2006 which was actually two crises in one, a financial and banking crisis, and resulted in what is sometimes called the Great Recession.
Categories: Juvenile Nonfiction

Private Rental Housing

Private Rental Housing

A new focus on private renting has been brought into sharp relief by the global financial crisis, with its profound impact on mortgage finance, housing markets and government budgets.

Author: Tony Crook

Publisher: Edward Elgar Publishing

ISBN: 9781781954164

Category: Business & Economics

Page: 264

View: 639

A new focus on private renting has been brought into sharp relief by the global financial crisis, with its profound impact on mortgage finance, housing markets and government budgets. Written by specially commissioned international experts and s
Categories: Business & Economics

Hot Property

Hot Property

This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing.

Author: Rob Nijskens

Publisher: Springer

ISBN: 9783030116743

Category: Capital market

Page: 221

View: 259

This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general. This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.
Categories: Capital market

Dynamics of Housing in East Asia

Dynamics of Housing in East Asia

This book is the first to evaluate the organisation, behaviour and performance of six major East Asian real estate markets.

Author: Bertrand Renaud

Publisher: John Wiley & Sons

ISBN: 9781119090717

Category: Business & Economics

Page: 352

View: 233

This book is the first to evaluate the organisation, behaviour and performance of six major East Asian real estate markets. It offers a unique analysis of the growth and transformation of the real estate sector across East Asia. The authors examine the interactions between volatility in the sector and the overall stability of the economy, in particular during the Asia financial crisis of 1997-98, and the global financial crisis of 2008-09. draws on the best available theoretical and empirical literature applies analytic tools in the context of East Asian institutions and policies helps understand factors affecting resilience and stability in East Asian real estate markets.
Categories: Business & Economics

Econometric Analyses of International Housing Markets

Econometric Analyses of International Housing Markets

This book explores how econometric modelling can be used to provide valuable insight into international housing markets.

Author: Rita Yi Man Li

Publisher: Routledge

ISBN: 9781317587910

Category: Business & Economics

Page: 198

View: 410

This book explores how econometric modelling can be used to provide valuable insight into international housing markets. Initially describing the role of econometrics modelling in real estate market research and how it has developed in recent years, the book goes on to compare and contrast the impact of various macroeconomic factors on developed and developing housing markets. Explaining the similarities and differences in the impact of financial crises on housing markets around the world, the author's econometric analysis of housing markets across the world provides a broad and nuanced perspective on the impact of both international financial markets and local macro economy on housing markets. With discussion of countries such as China, Germany, UK, US and South Africa, the lessons learned will be of interest to scholars of Real Estate economics around the world.
Categories: Business & Economics

Housing Market Bubbling Again After the Global Financial Crisis In 2008

Housing Market Bubbling Again After the Global Financial Crisis In 2008

This dissertation, "Housing Market Bubbling Again After the Global Financial Crisis in 2008: Government's Actions to Prevent the Bursting of the Housing Bubble" by Chun-ping, Tsang, 曾俊平, was obtained from The University of Hong Kong ...

Author: Chun-Ping Tsang

Publisher:

ISBN: 1361293403

Category:

Page:

View: 936

This dissertation, "Housing Market Bubbling Again After the Global Financial Crisis in 2008: Government's Actions to Prevent the Bursting of the Housing Bubble" by Chun-ping, Tsang, 曾俊平, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: After the Global Financial Crisis in 2008, the economy of Hong Kong has not fully recovered but the housing prices in Hong Kong market have been rising strongly after 2009. In the late of 2008, Hong Kong's housing prices started to rebound and began to surge since early 2009 surpassing the peak in 1997. Government senior officials have issued their warnings for the increasing risk of a bubble forming in the housing market. In accordance with my study, the causes of the rapid growth in the housing prices could be generalized from three major factors which are 1) low interest rates, 2) Government housing policy and 3) hot money. It is found that the scenarios and backgrounds have resemblance to the Japan's bubble economy in 1989. The bursting of the 'Bubble Economy' has led Japan's economy to a serious recession of more than 20 years. In order to prevent the bursting of the housing bubble after the Global Financial Crisis in 2008, the Hong Kong Government has implemented a series of preventative measures to eliminate the boom of bubble in the housing market. Those measures are first started in 2009 and in 2010, other concerned measures have been released by Government continuously after the following years. However, the housing prices still ascending in the past few years. Mr. John Tsang, the Hong Kong Financial Secretary warned that the price of secondhand flats on Hong Kong Island hit record levels, surpassing the peak reached during the 1997 housing bubble. Nowadays, Hong Kong is facing the downturn of world economy and the bad debt problems in Europe which will weaken the people's confidence on the housing market. In fact, the bursting of the housing bubble could be triggered by any adverse news or scandals. It will cause the housing prices begin to decline. The descending of the housing prices will further deteriorate the confidence of the people. It will generate a consequence so called the 'The Herding Effect' and will cause a huge amount of capital including the foreign investments retreated from the housing market within a very short period of time. The consequence will led the housing prices further collapse and trigger the bursting of housing bubble. In order to avoid the collapse of the Hong Kong housing market, the Government shall take much and more effectiveness preventative measures to tackle the booming of the housing bubbles. Otherwise, coupled with the consequence from 'The Herding Effect' and the continuously booming on the housing prices, once there is any adverse news or crashes come from internal or external, the housing bubble will be burst. The overall economic and financial stability in Hong Kong will face another serious impact and the Hong Kong Government, the home owners as well as the non-home owners have to experience another painful and bitter lesson since 1997 again. DOI: 10.5353/th_b4834335 Subjects: Housing policy - China - Hong Kong Real estate business - China - Hong Kong Home ownership - China - Hong Kong
Categories:

Milestones in European Housing Finance

Milestones in European Housing Finance

This book provides evidence on how housing finance markets developed across Europe.

Author: Jens Lunde

Publisher: John Wiley & Sons

ISBN: 9781118929445

Category: Business & Economics

Page: 488

View: 216

This book provides evidence on how housing finance markets developed across Europe. The objective of the text is to bring together up to date material from across Europe which will help to clarify (i) how national housing finance markets have dealt with the challenges of deregulation and privatisation since the 1980s,(ii) how the financial crisis has impacted on the structure of the industry and the range of financial instruments available, (iii) how governments and the EU have responded to increasing risks and higher indebtedness in most West European countries and the need to grow new finance markets in Eastern Europe, and (iv) how changing housing finance markets impact on the capacity to provide adequate affordable housing into the future.
Categories: Business & Economics

Crash and Beyond

Crash and Beyond

Explores the multiple roots of the crisis, including the build-up of global economic imbalances, the explosion in the use of novel financial instruments, the mismanagement of risk, and the specific roles played by housing and debt.

Author: Andrew Farlow

Publisher: Oxford University Press

ISBN: 9780199578016

Category: Business & Economics

Page: 418

View: 225

Explores the multiple roots of the crisis, including the build-up of global economic imbalances, the explosion in the use of novel financial instruments, the mismanagement of risk, and the specific roles played by housing and debt.
Categories: Business & Economics

Financial Innovation Collection

Financial Innovation  Collection

In this collection, three leading global finance researchers share those lessons, offering crucial insights for market participants, policymakers, and other stakeholders.

Author: Franklin Allen

Publisher: FT Press

ISBN: 9780133115253

Category: Business & Economics

Page: 465

View: 805

Sustainable, responsible financial innovation: lessons from the crisis, and new paths to global prosperity After the global financial crisis, responsible financial innovation is more crucial than ever. However, financial innovation will only succeed if it reflects the true lessons of the past decade. In this collection, three leading global finance researchers share those lessons, offering crucial insights for market participants, policymakers, and other stakeholders. Drawing on their pioneering work, they illuminate new opportunities for sustainable innovation in finance that can help restore housing markets and the overall global economy, while avoiding the failures of predecessors. In Financing the Future, Franklin Allen and Glenn Yago carefully discuss the current role of financial innovation in capitalizing businesses, industries, breakthrough technologies, housing solutions, medical treatments, and environmental projects. Allen and Yago explain how sophisticated capital structures can enable companies and individuals to raise funding in larger amounts for longer terms at lower cost, accomplishing tasks that would otherwise be impossible -- and offer a full chapter of essential lessons for using financial innovation to add value, manage risk, and improve the stability of the global economy. Next, in Fixing the Housing Market, Allen, Yago, and James R. Barth explain how responsible financial innovation can "reboot" damaged housing markets, improve their efficiency, and make housing more accessible to millions. The authors walk through the history of housing finance, evaluate housing finance systems in mature economies during and after the crisis, highlight benefits and risks associated with each leading mortgage funding structure and product, and assess current housing finance structures in BRIC economies. Building on these comparisons, they show how to create a more stable and sustainable financing system for housing: one that provides better shelter for more people, helps the industry recover, and creates thousands of new jobs. From world-renowned leaders and experts Franklin Allen, Glenn Yago, and James R. Barth
Categories: Business & Economics

Global Financial Crisis

Global Financial Crisis

This title examines an important historic event - the modern global financial crisis.

Author: Holly Dolezalek

Publisher: ABDO Publishing Company

ISBN: 9781617878459

Category: Juvenile Nonfiction

Page: 112

View: 799

This title examines an important historic event _ the modern global financial crisis. Easy-to-read, compelling text explores the impact of the failing housing market and the credit crisis in the United States, the US government bailouts of banks, automakers, and other businesses, issues around financial regulation and the US Federal Reserve, the spread of financial problems to Europe, Japan, and China, and the effects of this event on society. Features include a table of contents, a timeline, facts, additional resources, Web sites, a glossary, a bibliography, and an index. Essential Events is a series in Essential Library, an imprint of ABDO Publishing Company.
Categories: Juvenile Nonfiction

Housing Finance in Emerging Markets

Housing Finance in Emerging Markets

Provision of affordable housing is therefore an important topic in the fight against poverty. This book focuses on solutions that improve the enabling environment for the poor in accessing housing finance.

Author: Doris Köhn

Publisher: Springer Science & Business Media

ISBN: 3540778578

Category: Business & Economics

Page: 244

View: 812

The growth of urban areas and population in middle and low income countries is a continuing trend. Urbanization expands as rural to urban migration offers better income opportunities in cities. This trend is both a source of development opportunities and challenges for the housing sector. On the one hand, housing is a large and growing market, and on the other, massive slums confirm the poor housing conditions in many developing countries. These adverse conditions mirror inadequate housing policies, inefficient or absent property registration, as well as limits to access to housing finance. Provision of affordable housing is therefore an important topic in the fight against poverty. This book focuses on solutions that improve the enabling environment for the poor in accessing housing finance. It explores how to develop and integrate housing finance into a sustainable financial system for developing countries and offers ways in which low-income families can obtain better access to housing finance. This book provides a conceptual framework for housing finance development and addresses practical solutions in the provision of housing finance and compares different approaches.
Categories: Business & Economics

Fixing the Housing Market

Fixing the Housing Market

""This is an engaging, nontechnical, accessible, and cogent set of analyses for fixing the housing market. The authors provide an elegant, compelling, insightful, and timeless evaluation of how to resolve the current housing crisis.

Author: Franklin Allen

Publisher: Pearson Prentice Hall

ISBN: 9780137011605

Category: Business & Economics

Page: 195

View: 633

Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.
Categories: Business & Economics