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The housing cycle in emerging Middle Eastern economies and its macroeconomic policy implications /
This paper examines housing finance and housing price dynamics in selected emerging Middle Eastern economies over the past two decades. It finds that (i) mortgage markets have experienced rapid development, which has led to lower private per capita consumer spending volatility this decade; (ii) a do...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2009.
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| Colección: | IMF working paper ;
WP/09/288. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper examines housing finance and housing price dynamics in selected emerging Middle Eastern economies over the past two decades. It finds that (i) mortgage markets have experienced rapid development, which has led to lower private per capita consumer spending volatility this decade; (ii) a downward price correction occurred in the housing market after 2007, which appears to have bottomed out; (iii) the rental market appears to be largely determined by region-specific economic fundamentals-a youthful working-age population and wealth variables; and (iv) a segregation between self-owned house and rental price dynamics exists in this region, rendering the former more sensitive to the business cycle. |
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| Descripción Física: | 1 online resource (29 pages) : color illustrations |
| Bibliografía: | Includes bibliographical references (pages 27-28). |
| ISBN: | 1451918496 9781451918496 9781451874334 1451874332 1462314384 9781462314386 9786612844751 6612844752 128284475X 9781282844759 1452724822 9781452724829 |
| ISSN: | 2227-8885 ; |