The Inflation Of House Prices Its Extent Causes And Consequences

House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there is a need to monitor house prices and assess whether they are sustainable. This paper focuses on fundamentals expected to drive long run trends in house prices, including institutional and structural factors. The scale of potential valuation gaps is gauged on the basis of a cross-country panel analysis of house prices in 20 OECD countries.

A detailed analysis of the psychological and mechanical causes of the biggest rally, and subsequent fall, of housing prices ever recorded. Examines the causes of the breathtaking rise in prices and the catastrophic fall that ensued to answer the question on every homeowner's mind: "Why did house prices fall?"--Page 4 of cover

First published in 1998. Routledge is an imprint of Taylor & Francis, an informa company.

Originally published in 1988, this book documents and explains the emergence of flat ‘break-ups’ – the sale of individual owner occupation of blocks of flats which were previously privately rented and which played a major role in the transformation of the private housing market in London since the 1960s. The book shows that the flat break-up market in London was not a unique phenomenon but one of the most geographically concentrated manifestations of the trend for sales from private renting to owner occupation which has been established in the UK since the 1920s. The interrelationship between the causes of the decline of the privately rented sector in Britain and the features specific to the flat market comprises the second theme of the book.

Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.