The Spanish Residential Housing Market

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The Spanish Residential Housing Market

Author : Chris Karpfen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)

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Book Synopsis The Spanish Residential Housing Market by : Chris Karpfen

Download or read book The Spanish Residential Housing Market written by Chris Karpfen and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis analyses the macroeconomic development and determinants of the Spanish residential housing market covering the full housing cycle from 1995 to 2016 within a stock-flow framework. I establish an econometric model with the aim of estimating the determinants of both supply and demand and how these factors interact in a classic stock-flow model to determine the evolution of stock and housing prices. In line with modern stock-flow theory, a disequilibrium approach is used, allowing for price adjustments over several time periods as opposed to instantaneous market clearing. The results obtained from the stock-flow model are used to forecast the development of the housing market for the coming ten years (2016-2026) assuming two economic scenarios. Empirical results indicate a high likelihood of a recovery of both construction activity and prices over the next years and confirm the disequilibrium theory or gradual price adjustment.

Global Housing Markets

Author : Ashok Bardhan
Publisher : John Wiley & Sons
ISBN 13 : 0470647140
Total Pages : 576 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Global Housing Markets by : Ashok Bardhan

Download or read book Global Housing Markets written by Ashok Bardhan and published by John Wiley & Sons. This book was released on 2011-11-22 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: A global look at the reasons behind the recent economic collapse, and the responses to it The speculative bubble in the housing market began to burst in the United States in 2007, and has been followed by ruptures in virtually every asset market in almost every country in the world. Each country proposed a range of policy initiatives to deal with its crisis. Policies that focused upon stabilizing the housing market formed the cornerstone of many of these proposals. This internationally focused book evaluates the genesis of the housing market bubble, the global viral contagion of the crisis, and the policy initiatives undertaken in some of the major economies of the world to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals with the housing sector in addition to the financial sector of individual economies. Countries in many parts of the world were players in either the financial bubble or the housing bubble, or both, but the degree of impact, outcome, and responses varied widely. This is an appropriate time to pull together the lessons from these various experiences. Reveals the housing crisis in the United States as the core of the meltdown Describes the evolution of housing markets and policies in the run-up to the crisis, their impacts, and the responses in European and Asian countries Compares experiences and linkages across countries and points to policy implications and research lessons drawn from these experiences Filled with the insights of well-known contributors with strong contacts in practice and academia, this timely guide discusses the history and evolution of the recent crisis as local to each contributor's part of the world, and examines its distinctive and common features with that of the U.S., the trajectory of its evolution, and the similarities and differences in policy response.

The 'Housing Bubble' and Financial Factors

Author : Pamfili M. Antipa
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The 'Housing Bubble' and Financial Factors by : Pamfili M. Antipa

Download or read book The 'Housing Bubble' and Financial Factors written by Pamfili M. Antipa and published by . This book was released on 2015 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, France and Spain have experienced property price and residential investment increases which were among the strongest and the lengthiest in the euro area. Although the quality of the underlying data limits the precision of the estimates, the present paper aims at analysing the fundamental factors behind these evolutions. The analysis presented here assesses whether the observed price dynamics may be attributed to a pure expectation bubble phenomenon or to the large changes in financial and demographic factors. This is done by means of a structural model of the demand and supply sides of the housing market with an error-correction process. When taking into account a standard set of macroeconomic variables, our estimates imply that residential property prices in France and Spain were approximately 20% above the level explained by their fundamentals. When demographic and financial factors such as the borrowing capacity are taken on board, the degree of overvaluation is drastically reduced. The adjustment path to equilibrium is slightly faster in France than in Spain, but both countries display significant downward rigidity in prices.

Spain

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451812132
Total Pages : 27 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Spain by : International Monetary Fund

Download or read book Spain written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-06-14 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reviews the macroeconomic determinants of the rapid growth in the Spanish housing market, including various policy elements. It examines the vulnerabilities of households' finances as a result of the rapid growth of housing prices and mortgage debt. It also describes the Spanish mortgage market and assesses the resilience of the financial sector to a possible adjustment in the housing and mortgage markets. It presents a market-based indicator to show the market views on the quality of the mortgage portfolio and also provides recommendations.

Residential Capitalism

Author : Javier Moreno Zacarés
Publisher :
ISBN 13 : 9781032079349
Total Pages : 0 pages
Book Rating : 4.0/5 (793 download)

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Book Synopsis Residential Capitalism by : Javier Moreno Zacarés

Download or read book Residential Capitalism written by Javier Moreno Zacarés and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Over the last decade, Spain has become an emblem of the contradictory relationship between capitalism and housing. During the house-price boom of the 2000s, Spain built homes on an unprecedented scale, with output levels that overshadowed those of every major European economy. Nevertheless, when the fortunes of real estate markets turned, a wave of repossessions ensued, and a massive number of households were thrown out into the street as a sizeable portion of the housing stock lied vacant. In turn, the implosion of Spanish residential capitalism triggered an intense wave of unrest that has come to shape a decade of political turmoil. This book uses the Spanish case to bring to light, and theorise, the workings of residential capitalism. The author traces the evolution of residential provision from the nineteenth century to the present, situating the transformation of the housing market in a context of ongoing social change and conflict. The book shows how the present needs to be understood by looking at the historical process through which residential provision became subsumed under the logic of capitalist accumulation, but also at a long genealogy of struggles around urbanisation and housing, the outcomes of which remain crystallised in Spain's urban institutions. The author reveals how both residential capitalist development and urban social conflict have constituted one another, casting light on the historical relationship between housing crises, urban unrest, and the evolution of real estate markets. The book develops a historicist framework to understand residential capitalism, an important contribution for an age in which real estate markets have come to determine the rhythms of global capital. Addressing key issues and debates in the field, including the financialisation of housing, the politics of scale and urban entrepreneurialism, the political economy of the Eurozone, and the history of capitalist development, this book will be of great interest to students and scholars of political economy, as well as those engaged in crossover fields such as housing studies, urban geography, or financial geography"--

Efficiency of Regulation on Spanish Housing Market

Author : Hana Hejlová
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783846508619
Total Pages : 76 pages
Book Rating : 4.5/5 (86 download)

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Book Synopsis Efficiency of Regulation on Spanish Housing Market by : Hana Hejlová

Download or read book Efficiency of Regulation on Spanish Housing Market written by Hana Hejlová and published by LAP Lambert Academic Publishing. This book was released on 2011-10 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering reciprocal and mutually reinforcing relations between business, housing and credit cycles, the book assesses Spanish housing market in wider circumstances. The dynamic path of house prices is explained based on the difference in how structural components of the demand react on changes in financial and macroeconomic environment. As a result of controlling for match of demand and supply in both timely and spatial manner, expectations are included to explain the subsequent volume of housing traded on the market and microeconomic decision making model is derived to assess the role favourable incentives might have played in fuelling the house price cycle. Next, existence of reciprocal relations suggested by theory is confirmed empirically only during the house price upturn and asymmetry in speed of downward adjustment is found in the opposite case, pointing out at redistribution effect abrupt changes in house prices have in time. The results derived finally allow to assess possibilities of better employment of anti cyclical regulatory tools towards eliminating mutually enforcing powers between the cycles and avoiding both financial and macroeconomic imbalances in future.

Determinants of the Spanish Housing Market Over Three Decades and Three Booms

Author : María Arrazola
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (893 download)

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Book Synopsis Determinants of the Spanish Housing Market Over Three Decades and Three Booms by : María Arrazola

Download or read book Determinants of the Spanish Housing Market Over Three Decades and Three Booms written by María Arrazola and published by . This book was released on 2014 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Hot Property

Author : Rob Nijskens
Publisher : Springer
ISBN 13 : 3030116743
Total Pages : 220 pages
Book Rating : 4.0/5 (31 download)

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Book Synopsis Hot Property by : Rob Nijskens

Download or read book Hot Property written by Rob Nijskens and published by Springer. This book was released on 2019-06-14 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

House Price Developments in Europe

Author : Angana Banerji
Publisher : International Monetary Fund
ISBN 13 : 1451870698
Total Pages : 66 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis House Price Developments in Europe by : Angana Banerji

Download or read book House Price Developments in Europe written by Angana Banerji and published by International Monetary Fund. This book was released on 2008-09-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Immigration and Housing Booms

Author : Libertad Gonzalez
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Immigration and Housing Booms by : Libertad Gonzalez

Download or read book Immigration and Housing Booms written by Libertad Gonzalez and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate empirically the effect of immigration on house prices and residential construction activity in Spain over the period 1998-2008. This decade is characterized by both a spectacular housing market boom and a stunning immigration wave. We exploit the variation in immigration across Spanish provinces and construct an instrument based on the historical location patterns of immigrants by country of origin. The evidence points to a sizeable causal effect of immigration on both prices and quantities in the housing market. Between 1998 and 2008, the average Spanish province received an immigrant inflow equal to 17% of the initial working-age population. We estimate that this inflow increased house prices by about 52% and is responsible for 37% of the total construction of new housing units during the period. These figures imply that immigration can account for roughly one third of the housing boom, both in terms of prices and new construction.

Residential Capitalism

Author : Javier Moreno Zacarés
Publisher : Taylor & Francis
ISBN 13 : 1040022804
Total Pages : 255 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Residential Capitalism by : Javier Moreno Zacarés

Download or read book Residential Capitalism written by Javier Moreno Zacarés and published by Taylor & Francis. This book was released on 2024-04-23 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last decade, Spain has become an emblem of the contradictory relationship between capitalism and housing. During the house-price boom of the 2000s, Spain built homes on an unprecedented scale, with output levels that overshadowed those of every major European economy. Nevertheless, when the fortunes of real estate markets turned, a wave of repossessions ensued, and a massive number of households were thrown out into the street as a sizeable portion of the housing stock was lying vacant. In turn, the implosion of Spanish residential capitalism triggered an intense wave of unrest that has come to shape a decade of political turmoil. This book uses the Spanish case to bring to light, and theorise, the workings of residential capitalism. The author traces the evolution of residential provision from the nineteenth century to the present, situating the transformation of the housing market in a context of ongoing social change and conflict. The book shows how the present needs to be understood by looking at the historical process through which residential provision became subsumed under the logic of capitalist accumulation but also at a long genealogy of struggles around urbanisation and housing, the outcomes of which remain crystallised in Spain’s urban institutions. The author reveals how both residential capitalist development and urban social conflict have constituted each another, casting light on the historical relationship between housing crises, urban unrest, and the evolution of real estate markets. The book develops a historicist framework to understand residential capitalism, an important contribution for an age in which real estate markets have come to determine the rhythms of global capital. Addressing key issues and debates in the field, including the financialisation of housing, the politics of scale and urban entrepreneurialism, the political economy of the Eurozone, and the history of capitalist development, this book will be of great interest to students and scholars of political economy, as well as those engaged in crossover fields such as housing studies, urban geography, or financial geography.

Housing Estates in Europe

Author : Daniel Baldwin Hess
Publisher : Springer
ISBN 13 : 3319928139
Total Pages : 429 pages
Book Rating : 4.3/5 (199 download)

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Book Synopsis Housing Estates in Europe by : Daniel Baldwin Hess

Download or read book Housing Estates in Europe written by Daniel Baldwin Hess and published by Springer. This book was released on 2018-08-14 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book explores the formation and socio-spatial trajectories of large housing estates in Europe. Are these estates clustered or scattered? Which social groups originally had access to residential space in housing estates? What is the size, scale and geography of housing estates, their architectural and built environment composition, services and neighbourhood amenities, and metropolitan connectivity? How do housing estates contribute to the urban mosaic of neighborhoods by ethnic and socio-economic status? What types of policies and planning initiatives have been implemented in order to prevent the social downgrading of housing estates? The collection of chapters in this book addresses these questions from a new perspective previously unexplored in scholarly literature. The social aspects of housing estates are thoroughly investigated (including socio-demographic and economic characteristics of current and past inhabitants; ethnicity and segregation patterns; population dynamics; etc.), and the physical composition of housing estates is described in significant detail (including building materials; building form; architectural and landscape design; built environment characteristics; etc.). This book is timely because the recent global economic crisis and Europe’s immigration crisis demand a thorough investigation of the role large housing estates play in poverty and ethnic concentration. Through case studies of housing estates in 14 European centers, the book also identifies policy measures that have been used to address challenges in housing estates throughout Europe.

How to Deal with Real Estate Booms

Author : Mr.Pau Rabanal
Publisher : International Monetary Fund
ISBN 13 : 1455253308
Total Pages : 60 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis How to Deal with Real Estate Booms by : Mr.Pau Rabanal

Download or read book How to Deal with Real Estate Booms written by Mr.Pau Rabanal and published by International Monetary Fund. This book was released on 2011-04-01 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis showed, once again, that neglecting real estate booms can have disastrous consequences. In this paper, we spell out the circumstances under which a more active policy agenda on this front would be justified. Then, we offer tentative insights on the pros and cons as well as implementation challenges of various policy tools that can be used to contain the damage to the financial system and the economy from real estate boom-bust episodes.

Mortgaged Lives

Author : Ada Colau
Publisher :
ISBN 13 : 9780979137778
Total Pages : 214 pages
Book Rating : 4.1/5 (377 download)

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Book Synopsis Mortgaged Lives by : Ada Colau

Download or read book Mortgaged Lives written by Ada Colau and published by . This book was released on 2014-05-10 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Translated from Spanish, and originally published under Vidas Hipotecadas. About the organizing strategies of the PAH, Plataforma De Afectados Por La Hipoteca.

Housing Market Challenges in Europe and the United States

Author : P. Arestis
Publisher : Springer
ISBN 13 : 0230246982
Total Pages : 283 pages
Book Rating : 4.2/5 (32 download)

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Book Synopsis Housing Market Challenges in Europe and the United States by : P. Arestis

Download or read book Housing Market Challenges in Europe and the United States written by P. Arestis and published by Springer. This book was released on 2009-11-18 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Housing finance structures and Institutional and regulatory/fiscal aspects in housing have changed significantly in recent years. This book examines the development in housing markets in Europe and the US, and looks at ways to make housing more affordable and housing market developments more stable.

Green Energy and Efficiency

Author : Alberto Ansuategi
Publisher : Springer
ISBN 13 : 3319036327
Total Pages : 433 pages
Book Rating : 4.3/5 (19 download)

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Book Synopsis Green Energy and Efficiency by : Alberto Ansuategi

Download or read book Green Energy and Efficiency written by Alberto Ansuategi and published by Springer. This book was released on 2014-11-05 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the major issues associated with green energy and energy efficiency, this book examines the economics of energy from the theoretical as well as applied perspectives. It makes a valuable contribution to existing discussion around environment and climate change issues, and provides an analysis of the socioeconomic and policy-oriented aspects of this topic. Each chapter is self-contained and tackles the fundamental issues and latest developments of a particular sub-topic. Combining rigour and accessibility, this book allows non-specialized readers to understand the complexity of the topic, and to likewise access the most relevant and up-to-date literature. It simultaneously enables more specialized readers to broaden their understanding of complex energy topics and it provides a comprehensive overview of the cutting-edge developments of the issues covered by the book. This book covers important themes including regulation for green energy, the promotion of green energy and efficiency, the challenges and options of renewable energy, and efficiency in economic sectors. It is intended for researchers and postgraduates with an interest in energy, climate change and environmental economics, and also policymakers and energy companies.

Housing Markets in Europe

Author : Olivier de Bandt
Publisher : Springer Science & Business Media
ISBN 13 : 3642153402
Total Pages : 416 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis Housing Markets in Europe by : Olivier de Bandt

Download or read book Housing Markets in Europe written by Olivier de Bandt and published by Springer Science & Business Media. This book was released on 2010-10-14 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the recession in the years 2008-2009, the most severe for mature economies in the post-war period, housing markets were often mentioned as having a special responsibility. The objective of this book is to shed light on the cyclical behaviour of the housing markets, its fundamental determinants in terms of supply and demand characteristics, and its relationship with the overall business cycle. The co-movements of house prices across countries are also considered, as well as the channel of transmission of house price changes to the rest of the economy. Particular attention is paid to the effects on private consumption, through possible wealth effects. The book is a compilation of original papers produced by economists and researchers from the four main national central banks in the euro area, also with the participation of leading academics.