House prices
Bigger housing booms create deeper downturns – IMF paper
Rapid home price rises can trigger big economic busts and misallocations of resources, authors find
China announces 10bp cut in short-term interest rate
Decision comes days after central bank left benchmark rates unchanged
House prices react rapidly to rates shocks – BIS paper
Monetary policy transmission stronger in US property market than previously thought, study argues
Global house prices have ‘almost stabilised’ – BIS
Prices still declining in aggregate, a trend driven mainly by China and the eurozone
Mortgage reforms, surprise rate hikes harm renters – ECB study
Researchers say young people could lose equivalent of 1% of their lifetime consumption
Bank of Korea holds policy rate
MPC members open to cutting rates in next three months, despite concerns over rising home prices
US Helocs rise after years of decline – research
Study by Kansas City Fed warns balances are outsized compared with debt consolidation
Monetary policy-makers should track bubbles – Dallas Fed paper
Economists warn of possible ‘explosive bubbles’ and evaporating wealth
Housing price disparities complicate US monetary policy – research
Time-varying inertia in prices makes housing bubbles more unpredictable, Dallas Fed paper says
Chinese cities ease home-buying rules as housing slump continues
Analysts say real estate sector unlikely to turn around this year despite recent interventions
Fed policy-makers express frustration over price rises
Officials draw differing conclusions on the outlook for the labour market
Bank of Canada holds rates for sixth consecutive time
Central bank optimistic that rate cuts are ahead and inflation will gradually fall
New measurement shows ‘historically high’ Canadian financial stress
Financial fragility is concentrated among renters and some mortgage holders, paper says
Monetary policy may have counterintuitive housing price effects – research
Researchers from the Dallas Fed say indirect effects may undercut policy’s aims
Global house prices close to bottoming out, BIS stats show
Economists puzzle over absence of sharper correction
Reasons for refusing mortgages ‘do not explain racial disparity’
Minneapolis Fed’s study challenges explanations given for why people of colour are treated differently
Monetary policy transmission may have grown weaker – Dallas Fed
Research finds countries with slow and fast pass-through rates experience similar demand effects
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
CGFS draws lessons from 168 years of macro-pru policy
Controlling housing market risks can force authorities into difficult political economy terrain
Bank of Canada holds rates steady
Macklem says it’s clear the stance of policy is restricting inflationary pressures
Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment