There is a bitter controversy over what drives the housing price in China in the existing literature. In this paper, we investigate the underlying driving force behind housing price fluctuations in China, especially focusing on the role of housing demand shock with that of money supply shock in explaining housing price movements, by a new Keynesian dynamic stochastic general equilibrium model. ...

During the last few decades most developing countries have experienced a rapid growth in population which has resulted in a rapid urbanisation in the form of an expansion of existing towns, coupled with an increasing dependence upon developed countries for implementation of new housing programmes. The purpose of this study is to point out the problems of public housing, to identify the relation...

IIn recent years, policymakers have generally relied on regulatory policies to address financial stability concerns. However, our understanding of these policies and their efficacy in curbing housing prices is limited. In this paper, we examine the impact of three regulatory tools i.e. LTV (loan to value) ratio, reserve requirement rate (RR), and capital adequacy ratio (CAR) on housing price in...

p olicy makers in housing sector seeks to use instruments by which they can control volatility of housing price and prevent high disturbances of the bubble and price shocks, or at least, reduce them. in the portfolio and speculation theories, it is emphasized that speculative demand for housing is the main cause of shocks and price volatilities in the sector. the theory of housing price bubble ...

Policy instruments at least partly intended to promote mixed tenure include the Right to Buy, other low-cost home ownership schemes, aspects of estate and urban regeneration policy and the use of the planning system. While it might seen that 'tenure diversification' and 'mixed tenure' are euphemisms for breaking up social housing estates and reducing the total stock of social housing, the opera...

Governments throughout the world intervene heavily in housing markets, and most have multiple policies to pursue multiple goals. This chapter deals with two of the largest types of housing policies in the United States, namely, low-income rental assistance and policies to promote homeownership through interventions in mortgage markets. We describe the rationales for the policies, the nature of ...

This paper provides a commentary on the contemporary housing crisis in England and links it to broader questions of role of housing in capitalist economies and societies. It starts with the assumptions that housing and community development issues are linked to the wider housing market and that the housing crisis is not new but has long-run antecedents. The paper begins by reviewing the contemp...

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When you look back over the past half-century in the United States you see a remarkable secular change in the housing cycle. Most importantly, the volatility or average size of the fluctuations in residential construction declined. The change occurred in the early 1980s. For example, compare two periods, the first before the early 1980s and the second since the 1980s. In the earlier period the ...