Hidden Bibliographic Details
| Other authors / contributors: | Hilbers, Paul Louis Ceriel, author.
International Monetary Fund. European Department.
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| ISBN: | 1451915225
9781451915228
9781451915228
9781451870695
1451870698
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| Notes: | Includes bibliographical references (pages 52-54).
Print version record.
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| Summary: | House prices in Europe have shown diverging trends, and this paper seeks to explain these differences by analyzing three groups of countries: the "fast lane", the average performers, and the slow movers. Price movements in the first two groups are found to be driven mostly by income and trends in user costs, and housing markets in these countries seem relatively more susceptible to adverse developments in fundamentals. Real house price declines among the slow movers are harder to explain, although ample supply, low home ownership, and less complete mortgage markets are likely factors. The impact of macroeconomic, prudential and structural policies on housing markets can be large and should be a factor in policy decisions.
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| Other form: | Print version: House price developments in Europe. Washington, D.C. : International Monetary Fund, ©2008
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| Standard no.: | 10.5089/9781451915228.001
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