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Housing View – November 10, 2017

On cross-country:

  • Why I won’t buy a house in any major city – and neither should you – World Economic Forum
  • Migration and Its Impact on Cities – World Economic Forum
  • Why there? Developers’ rationale for building social housing in the urban periphery in Latin America – Cities
  • Prime Global Cities Index – Q3 2017 – Knight Frank
  • Homes and Mortgages 2017 – Housing Costs and Prices – ING
  • Public expenditure on housing: the shift from capital spend to housing allowances. A European trend? – National Housing Federation
  • Demographic structure and housing prices: East Asia and Europe – Ideas
  • Bloomberg Global City Housing Affordability Index – Bloomberg

 

On the US:

 

On other countries:

  • [Bulgaria] A Roof Over Our Heads: Ensuring Adequate Housing for All Bulgarians – World Bank
  • [Finland] Why housing policy in Finland is a success story – Housing Europe
  • [India] Time to rethink public housing? – The Hindu
  • [New Zealand] New Zealand to ban foreign home buyers – Global Property Guide
  • [Norway] Housing Crash Dodged in Norway, But Intervention Door Stays Open – Bloomberg
  • [United Kingdom] London’s bubbly housing market goes flat – Economist
  • [United Kingdom] FT Money Show: Property prices, self build and pension transfers – Financial Times
  • [United Kingdom] How to solve the UK housing crisis – Financial Times
  • [United Kingdom] Housing Market Discount Rates: Evidence from Property Taxes – London School of Economics

 

aliis-sinisalu-70432

Photo by Aliis Sinisalu

On cross-country:

  • Why I won’t buy a house in any major city – and neither should you – World Economic Forum
  • Migration and Its Impact on Cities – World Economic Forum
  • Why there? Developers’ rationale for building social housing in the urban periphery in Latin America – Cities
  • Prime Global Cities Index – Q3 2017 – Knight Frank
  • Homes and Mortgages 2017 –

Read the full article…

Posted by at 5:00 AM

Labels: Global Housing Watch

Productivity and Pay: Is the Link Broken?

Interesting presentation by Stansbury and Summers.

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Interesting presentation by Stansbury and Summers.

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Read the full article…

Posted by at 3:40 PM

Labels: Inclusive Growth

Roads or Schools: A Critical Tradeoff

Roads or schools? It’s a question akin to the “guns or butter” choice that governments around the world confronted in the 20th century: How to spend a nation’s finite resources to produce the maximum benefit for its people. A new IMF working paper finds that low-income countries tend to spend less on schools than on roads as a share of GDP.

“In the presence of distortionary taxation and debt aversion, the different pace at which roads and schools contribute to economic growth turns out to be central to this decision. Specifically, while costs are front-loaded for both types of investment, the growth benefits of schools accrue with a delay. To put things in perspective, with a ‘big push’, even assuming a large (15 percent) return differential in favor of schools, the government would still limit the fraction of the investment scale-up going to schools to about a half. Besides debt aversion, political myopia also turns out to be a crucial determinant of public investment composition. A ‘big push’, by accelerating growth outcomes, mitigates myopia—but at the expense of greater risks to fiscal and debt sustainability. Tied concessional financing and grants can potentially mitigate the adverse effects of both debt aversion and political myopia”

Capture

 

Roads or schools? It’s a question akin to the “guns or butter” choice that governments around the world confronted in the 20th century: How to spend a nation’s finite resources to produce the maximum benefit for its people. A new IMF working paper finds that low-income countries tend to spend less on schools than on roads as a share of GDP.

“In the presence of distortionary taxation and debt aversion, the different pace at which roads and schools contribute to economic growth turns out to be central to this decision.

Read the full article…

Posted by at 1:45 PM

Labels: Inclusive Growth

Housing View – November 3, 2017

On cross-country:

 

On the US:

 

On other countries:

  • [Australia] Australia’s Housing Boom Is ‘Officially Over,’ UBS Says – Bloomberg
  • [Australia] Quarterly Housing & Economic Review – October 2017 Release – CoreLogic
  • [Australia] As Dwelling Construction Surges Housing Turnover Falls – CoreLogic
  • [Canada] Foreign buyers inch back into Vancouver housing market – Reuters
  • [China] The Conventional View of China’s Problems May Be All Wrong: Q&A – Bloomberg
  • [Ireland] Revised mortgage measures – a six-month snapshot – Central Bank of Ireland
  • [New Zealand] New Zealand’s Foreign Home Ownership Ban Won’t Cause Price Collapse-Trade Min – New York Times, Quartz
  • [United Kingdom] Home values and firm behaviour – Bank of England
  • [United Kingdom] Inside London’s Huge Experiment in Predicting the Housing Future – Bloomberg
  • [United Arab Emirates] Dubai: Service Me This – REIDIN

 

aliis-sinisalu-70432

Photo by Aliis Sinisalu

On cross-country:

 

Read the full article…

Posted by at 5:00 AM

Labels: Global Housing Watch

Inequality in Brazil: A Regional Perspective

From a new IMF working paper: “In this study, we document the decline in income inequality and a convergence in consumption patterns in Brazilian states in a new database constructed from micro data from the national households’ survey. We adjust the state-Gini coefficients for spatial price differences using information on households’ rental prices available in the survey. In a panel regression framework, we find that labor income growth, formalization, and schooling contributed to the decline in inequality during 2004−14, but redistributive policies, such as Bolsa Família, have also played a positive role. Going forward, it will be important to phase out untargeted subsidies, such as public spending on tertiary education, and contain growth of public sector wages, to improve budgetary efficiency and protect gains in equality.”

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From a new IMF working paper: “In this study, we document the decline in income inequality and a convergence in consumption patterns in Brazilian states in a new database constructed from micro data from the national households’ survey. We adjust the state-Gini coefficients for spatial price differences using information on households’ rental prices available in the survey. In a panel regression framework, we find that labor income growth, formalization, and schooling contributed to the decline in inequality during 2004−14,

Read the full article…

Posted by at 5:50 PM

Labels: Inclusive Growth

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