Showing posts with label Global Housing Watch.   Show all posts

Housing View – October 5, 2018

On cross-country:

 

On the US:

 

On other countries:

  • [Canada] British Columbia Cracks Down on Dirty Money in Real Estate – Bloomberg
  • [Denmark] Housing Summit: Future Housing Market and Urban Development in the Capital Region of Denmark – Copenhagen Economics
  • [Germany] A look into German housing markets: A bubble call? – Sage Journal
  • [Ireland] Thousands march on Irish parliament in growing housing shortage protest – Reuters
  • [Italy] House prices in local markets in Italy: dynamics, levels and the role of urban agglomerations – Bank of Italy
  • [Mexico] Empty houses across North America: Housing finance and Mexico’s vacancy crisis – Urban Studies
  • [Spain] Organisations and political groups reach an agreement to allocate 30% of all new homes as protected housing – Info Barcelona
  • [Thailand] Thailand to Impose Mortgage Curbs to Tackle Speculation – Bloomberg
  • [United Kingdom] What a no-deal Brexit could mean for London property prices – Global Property Guide
  • [United Kingdom] London stamp duty take hits record £4.9bn even as sales fall – Financial Times
  • [United Kingdom] May Plans to Hike U.K. Property Tax for Foreign Buyers – Bloomberg
  • [United Kingdom] New tax on foreign home buyers to help rough sleepers, PM says – BBC
  • [United Kingdom] Social Housing: Evidence Review – University of York

 

Photo by Aliis Sinisalu

On cross-country:

 

On the US:

Read the full article…

Posted by at 5:00 AM

Labels: Global Housing Watch

Sectoral Booms and Misallocation of Managerial Talent: Evidence from the Chinese Real Estate Boom

From a new IMF working paper by Yu Shi:

“This paper identifies a new mechanism leading to inefficiency in capital reallocation at the extensive margin when an economy experiences a sectoral boom. I argue that imperfections in the financial market and capital barriers to entry in the booming sector create a misallocation of managerial talent. Using comprehensive firm-level data from China, I first provide evidence that more productive firms reallocate capital to the booming real estate sector, and demonstrate that the pattern is likely driven by fewer financial constraints on these firms. I then use a structural estimation to verify the talent misallocation. Finally, I calibrate a dynamic model and find that the without the misallocation, the TFP growth in the manufacturing sector would have improved by 0.5% per year.”

 

From a new IMF working paper by Yu Shi:

“This paper identifies a new mechanism leading to inefficiency in capital reallocation at the extensive margin when an economy experiences a sectoral boom. I argue that imperfections in the financial market and capital barriers to entry in the booming sector create a misallocation of managerial talent. Using comprehensive firm-level data from China, I first provide evidence that more productive firms reallocate capital to the booming real estate sector,

Read the full article…

Posted by at 10:31 AM

Labels: Global Housing Watch

House Price Synchronization and Financial Openness: A Dynamic Factor Model Approach

From a new IMF working paper by Mitsuru Katagiri:

“This paper investigates the developments in house price synchronization across countries by a dynamic factor model using a country- and city-level dataset, and examines what drives the synchronization. The empirical results indicate that: (i) the degree of synchronization has been rising since the 1970s, and (ii) a large heterogeneity in the degree of synchronization exists across countries and cities. A panel and cross-sectional regression analysis show that the heterogeneity of synchronization is partly accounted for by the progress in financial and trade openness. Also, the city-level analysis implies that the international synchronization is mainly driven by the city-level connectivity between large and international cities.”

From a new IMF working paper by Mitsuru Katagiri:

“This paper investigates the developments in house price synchronization across countries by a dynamic factor model using a country- and city-level dataset, and examines what drives the synchronization. The empirical results indicate that: (i) the degree of synchronization has been rising since the 1970s, and (ii) a large heterogeneity in the degree of synchronization exists across countries and cities. A panel and cross-sectional regression analysis show that the heterogeneity of synchronization is partly accounted for by the progress in financial and trade openness.

Read the full article…

Posted by at 10:28 AM

Labels: Global Housing Watch

House Prices in Philippines

The latest IMF report on Philippines points out that:

The latest IMF report on Philippines points out that:

Read the full article…

Posted by at 10:23 AM

Labels: Global Housing Watch

Housing View – September 28, 2018

On the US:

 

On other countries:

  • [Chile] ¿Cómo influye la cercanía del Metro en el valor de una propiedad? – CNN
  • [China] Understanding Real Estate Price Dynamics: The Case of Housing Prices in Five Major Cities of China – Journal of Housing Economics
  • [China] How Much Would China’s GDP Respond to a Slowdown in Housing Activity? – Federal Reserve Bank of Kansas City
  • [China] China Developers’ Funding Source at Risk in Sales Crackdown – Bloomberg
  • [Germany] Germany sets out measures to tackle affordable housing shortage – Reuters
  • [Germany] Germany’s soaring housing prices spark calls for reform – Deutsche Welle
  • [Hong Kong] Higher interest rates threaten overvalued property markets – Financial Times
  • [Hong Kong] Hong Kong at greatest risk of housing bubble: UBS – Financial Times
  • [United Kingdom] Is Richmond the Nimbyest place in London? – Financial Times

 

Photo by Aliis Sinisalu

On the US:

  • Perception of House Price Risk and Homeownership – NBER
  • Affordable Housing: Hard Way and Easy Way – Cato Institute
  • Barriers to Accessing Homeownership Down Payment, Credit, and Affordability – 2018 – Urban Institute
  • Texas Property Taxes Soar as Homeowners Confront Rising Values – Federal Reserve Bank of Dallas
  • The housing bubble, the credit crunch,

Read the full article…

Posted by at 5:00 AM

Labels: Global Housing Watch

Newer Posts Home Older Posts

Subscribe to: Posts