Real Estate Market Developments and Financial Sector Soundness
By P. Hilbers, Lisbeth S Zacho, Qin Lei. Social Science Research Network, 2001
111 citations recorded by the source corpus.
This paper analyses the characteristics and functioning of real estate markets. It focuses on the relationship between developments in these markets and the financial sector to determine under what circumstances real estate booms and busts can develop and how they can affect the health and stability of the financial system. It concludes that unbalanced real estate price developments often contribute to financial sector distress and that trends in real estate markets should be monitored closely in the context of financial sector assessments.
View Paper: https://www.semanticscholar.org/paper/ef4e435531cbfc58dc892489907a49b6acf2c096
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Citations in the corpus
- Real Estate Prices and Bank Stability (2010, unknown): “…estate prices and banking stability: the comparability (or lack thereof) of real estate properties across markets in cross-country studies (e.g., Hilbers et al., 2001; Holly et al., 2007), the need to account for deviations in house prices from fundamentals rather than focusing solely on price…”
- Bank lending and commercial property cycles: some cross-country evidence (2011, background): “As noted by Hilbers et al (2001), these include heterogeneous supply; the absence of a central trading market; infrequent trades; high transactions costs; the lack of price transparency owing to the role of bilateral negotiations; rigid and constrained supply; and the use of real estate as…”