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Hot Property : The Housing Market in Major Cities.

Bibliographic Details
Main Author: Nijskens, Rob.
Other Authors: Lohuis, Melanie., Hilbers, Paul., Heeringa, Willem.
Format: eBook
Language:English
Published: Cham : Springer International Publishing AG, 2019.
Edition:1st ed.
Subjects:
Electronic books.
Online Access:Click to View
Table of Contents:
  • Hot Property
  • Foreword
  • Preface
  • Key Takeaways
  • Conclusion
  • Contents
  • Part I: The Rise of Major Cities: Causes and Consequences
  • Chapter 1: In the Age of Cities: The Impact of Urbanisation on House Prices and Affordability
  • 1 Introduction
  • 2 The Popularity of Major Cities
  • 3 Consequences of the Rise of Major Cities: Housing Affordability and Its Challenges
  • 3.1 Causes of the Housing Affordability Crisis
  • 4 The Impact of Institutional Investment on the Housing Market
  • 5 Potential Solutions
  • 6 Conclusions
  • References
  • Chapter 2: Tackling LondonsĖ Housing Crisis
  • 1 Defining the Crisis
  • 2 Building Homes for Londoners
  • 3 Beyond Building
  • 3.1 Genuinely Affordable Homes
  • 3.2 LondonsĖ Private Rented Sector
  • 3.3 Homelessness and Rough Sleeping
  • 4 Devolution
  • References
  • Chapter 3: The Housing Market in Major Dutch Cities
  • 1 Introduction
  • 2 Price Movements in Major Urban Housing Markets Dissected
  • 2.1 Signs of Overheating in Major Urban Housing Markets
  • 2.2 As Yet no Indications of a Credit-Driven Bubble
  • 3 Differences Between the Major Cities and the Rest of the Netherlands
  • 3.1 Demand for Housing
  • 3.2 Housing Supply
  • 4 Conclusions and Policy Recommendations
  • References
  • Part II: Is There a Bubble in Major Cities?
  • Chapter 4: Regional House Price Differences: Drivers and Risks
  • 1 Why Might Regionally Concentrated House Price Booms Raise Concerns?
  • 2 House Price Developments
  • 3 Macroeconomic and Financial Stability Risks Assessments
  • 3.1 Persistence, Reversals and Resilience
  • 3.2 Externalities
  • 4 Implications for Macroprudential Policy
  • References
  • Chapter 5: A Tale of Two Cities: Is Overvaluation a Capital Issue?
  • 1 Introduction
  • 2 A Framework for Regional House Price Modelling: The Case of London
  • 3 The Case of Paris
  • 4 Conclusions
  • References.
  • Chapter 6: Towards a Global Real Estate Market? Trends and Evidence
  • 1 Introduction
  • 2 The Increasing Synchronicity in House Prices Across Countries
  • 2.1 Towards a Global Real Estate Market?
  • 2.2 Or the Growing Importance of World Cities?
  • 3 House Price Determinants
  • 3.1 Synchronicity: The Role of Global Factors
  • 3.2 Local Amplifiers
  • 4 Policy Implications
  • References
  • Chapter 7: Managing House Price Booms: Evolution of IMF Surveillance and Policy Advice
  • 1 Introduction
  • 2 The Changing Lines of Defense
  • 2.1 Explaining Booms
  • 2.2 Managing Booms
  • 3 Time to Worry Again?
  • 4 Dealing with Glocalization
  • 4.1 Explaining Local Booms
  • 4.2 Managing Local Booms
  • 5 Concluding Remarks
  • References
  • Part III: Housing Supply in Urban Areas
  • Chapter 8: The Macroeconomic Implications of Housing Supply Restrictions
  • 1 Introduction
  • 2 Hot Property Markets and the Microeconomics of Construction Constraints
  • 3 Housing Bubbles, Credit Conditions and Extrapolative Beliefs
  • 3.1 Housing Supply Elasticity and Counter-Recessionary Policy
  • 4 The Complementarities Between Housing and Macroeconomic Policy
  • 5 Conclusion
  • References
  • Chapter 9: Some Brief Thoughts on Housing Supply and Policy
  • 1 Introduction
  • 2 User Cost, Demand for Dwellings, and Housing Prices
  • 3 Capital Markets and Housing
  • 4 Housing Supply, Affordability, and Overheating
  • 5 Mortgage Underwriting Using Fundamental Housing Valuation Forecasts (FHVF)
  • 6 Make Supply Elastic Again
  • References
  • Chapter 10: The Smouldering Issue
  • 1 Shifting Towards the Market for Two Decades
  • 2 Agreements with Housing Associations are at the Forefront
  • 3 Overheating of the Amsterdam Housing Market
  • 4 Exerting Counterpressure on the Market
  • 5 Limits on the Management Possibilities of Municipalities.
  • Chapter 11: Housing Markets in Scandinavia: Supply, Demand and Regulation
  • 1 Background
  • 2 Explanations for the Shortage and Rise in Prices of Housing
  • 3 Policy Options
  • 4 An Example of a Macroprudential Policy Measure
  • 5 Conclusions
  • References
  • Chapter 12: The Relationship Between Supply Constraints and House Price Dynamics in the Netherlands
  • 1 Introduction
  • 2 Data
  • 3 Methodology
  • 4 Results
  • 4.1 The Long-Run Relation Between Income and House Prices
  • 4.2 The Short-Run (Dynamic) Relation Between Income and House Prices
  • 5 Conclusion and Future Research
  • References
  • Part IV: Policy Responses
  • Chapter 13: The Dutch Housing Agenda
  • 1 Introduction
  • 2 Housing Affordability and Increasing Supply
  • 3 Concluding Remarks
  • References
  • Chapter 14: Financial Stability and Housing Markets in Large Cities: What Role for Macroprudential Policy?
  • 1 Facts About House Price Trends in Large Cities
  • 2 Drivers of House Price Trends in Large Cities
  • 3 Implications for Financial Stability and the Role of Macroprudential Policy
  • 4 Conclusions
  • References
  • Chapter 15: Soaring House Prices in Major Cities: How to Spot and Moderate Them
  • 1 Introduction
  • 2 Are Capital Cities Different from Other Regions?
  • 3 Policy Recommendations
  • 3.1 Country Experiences
  • 3.2 Policy Options
  • References
  • Chapter 16: The Korean Housing Market: Its Characteristics and Policy Responses
  • 1 Recent Housing Market Developments
  • 1.1 Housing Price Trends
  • 1.2 Supply and Demand
  • 2 Structural Characteristics of the Korean Housing Market
  • 2.1 Apartments as a Dominant Form of Housing
  • 2.2 Demand for Housing as an Investment
  • 2.3 Household-Led Supply of Rental Housing
  • 3 Recent Buoyancy in the SMA Housing Market
  • 3.1 Persistently Low Interest Rates
  • 3.2 Easing of Real Estate Regulations.
  • 3.3 Stronger Incentives for Financial Institutions to Provide Mortgage Loans
  • 4 Policy Responses
  • 4.1 Comprehensive Measures
  • 4.2 Tailored Responses
  • 5 Policy Evaluation
  • Appendix
  • References
  • Chapter 17: House Prices and Financial Stability: An Australian Perspective
  • 1 Introduction
  • 2 The Housing Market in Australia
  • 3 The Policy Response
  • 4 Reflections
  • 4.1 How Is Effectiveness Evaluated?
  • 4.2 Are Geographical Restrictions Helpful?
  • 4.3 Are There Undesirable Consequences?
  • 4.4 How Are These Policies Likely to Evolve?
  • References
  • Graph Data Sources
  • Chapter 18: Exploding House Prices in Urban Housing Markets: Explanations and Policy Solutions for the Netherlands
  • 1 Introduction
  • 2 The Specifics of Pre- and Post-crisis Housing in the Netherlands and Its Major Cities
  • 3 Explaining the Emergence of Hot Property Markets
  • 4 Policy Solutions for Hot Property Markets
  • 4.1 Macroprudential Policy
  • 4.2 Structural Urban and National Housing Policies
  • 5 Conclusions
  • References.

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