The Impact of the Credit Crunch on UK Housing Market PDF Download
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Author: Binod Chongbang
Publisher:
ISBN:
Category :
Languages : en
Pages : 76
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Book Description
This dissertation is primarily focused in to the housing prices of UK housing market and the lending situation during the financial turmoil. Giving more emphasize in the housing prices, this dissertation thoroughly examines the housing boom and bust of the UK housing market keeping into mind that the how much credit crisis affected in to it. It also attempts to understand the volatility of UK housing market along with the credit availability in the market. Due to the volatile market, there is always fluctuations occur in UK housing market.In contrary, this research tried to analysis the housing prices trend along with the type of mortgages which are available in the market. The research has been gone through to understand whether house prices overvalued or not. There are several factors that affects the house prices from demand and supply sides, research tried to outline those factors and their impact on house prices. Due to inadequate supply of houses in order to satisfy the housing demand, there was housing boom. Eventually, lending excessively mortgages loan invited massive financial turmoil. Despite of downturn in housing market, in recent years the market is moving slowly to upward.
Author: Binod Chongbang
Publisher:
ISBN:
Category :
Languages : en
Pages : 76
Get Book Here
Book Description
This dissertation is primarily focused in to the housing prices of UK housing market and the lending situation during the financial turmoil. Giving more emphasize in the housing prices, this dissertation thoroughly examines the housing boom and bust of the UK housing market keeping into mind that the how much credit crisis affected in to it. It also attempts to understand the volatility of UK housing market along with the credit availability in the market. Due to the volatile market, there is always fluctuations occur in UK housing market.In contrary, this research tried to analysis the housing prices trend along with the type of mortgages which are available in the market. The research has been gone through to understand whether house prices overvalued or not. There are several factors that affects the house prices from demand and supply sides, research tried to outline those factors and their impact on house prices. Due to inadequate supply of houses in order to satisfy the housing demand, there was housing boom. Eventually, lending excessively mortgages loan invited massive financial turmoil. Despite of downturn in housing market, in recent years the market is moving slowly to upward.
Author: Ernestina Udemba
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Ray Forrest
Publisher: Edward Elgar Publishing
ISBN: 1849805849
Category : Political Science
Languages : en
Pages : 273
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Book Description
The impacts of the so-called global crisis are, in fact, highly uneven for both households and institutions. This unique book investigates why this is the case, whilst emphasizing the consequences. It encompasses the experiences of all the major economies, including: Australia, China, Hong Kong, Hungary, Iceland, Ireland, Japan, New Zealand, the Netherlands, South Korea, the USA, the UK and Vietnam, highlighting and comparing a wide range of housing systems and crisis impacts. Housing Markets and the Global Financial Crisis will strongly appeal to academics and postgraduate students in social policy, urban studies, public policy, economics, sociology and human geography. In addition, anyone with a general interest in globalization, neoliberalism and the changing nature of contemporary capitalist societies, as well as those with particular interests in housing markets and housing policy, will find this book enriching and enlightening.
Author: F. Albert Wang
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
We investigate the recent financial crisis with an emphasis on the interlock among housing, mortgage, and credit markets. Following Geanakoplos (2003, 2010), we develop a model in which both prices of the mortgage and its collateral are simultaneously and endogenously determined. Our empirical tests confirm the model's prediction that an adverse change in the risk free rate or the loan recovery rate can trigger the financial crisis as we observed. Finally, we discuss how the pro-cyclical leveraging practice by financial intermediaries can magnify their losses in mortage-related assets and consequently cause significant contraction in the balance sheets of these firms.
Author: Colin Jones
Publisher: John Wiley & Sons
ISBN: 1118280830
Category : Law
Languages : en
Pages : 337
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Book Description
This timely book addresses key challenges faced by policy makers and the house-building industry in a post-credit crunch world. It examines the implications for households, the housing market, the economy, as well as for government's policy choices. Challenges of the Housing Economy: an international perspective brings together experts from around the world to examine recent housing market trends. The contributions reveal common long-term trends in housing markets worldwide. Despite differences in supply conditions and the role of planning, there is a trend toward rising house prices that has created significant barriers to home ownership for young households while increasing the wealth of older generations. The financial crisis had a differential impact on housing markets but in many countries where mortgage finance became severely constrained, house prices fell and there was a dramatic fall in housing construction. The falls in house prices in these countries have ostensibly improved affordability but the housing markets have been dominated by the lowering of loan to values applicable to new mortgages which has further raised the hurdles to potential first-time purchasers. At the same time as young households are increasingly rationed out of owner-occupation, public sector expenditure cut-backs in many countries result in limited new social housing. Instead, value for money imperatives will mean new funding models for affordable housing that require greater use of public-private partnerships. The private rented sector could potentially meet the demand for the new generation of long-term renters. However, there are doubts - in the UK at least - that this sector will be able to expand significantly or provide an appropriate type and standard of housing. This is an essential advanced text for students and researchers of land economy and land management; property and real estate; housing policy; and urban studies.
Author: Great Britain. Parliament. House of Commons. Communities and Local Government Committee
Publisher: The Stationery Office
ISBN: 9780215526526
Category : Architecture
Languages : en
Pages : 276
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Book Description
In this report the Communities and Local Government Committee says the Government must stick to its long term house building targets, despite the credit crunch, but a greater proportion of the homes built should be social housing. The Committee is concerned that the £975 million borrowed by the Government from its 2010-11 budgets to build social rented housing now is not new money, and that the Government has been unable to say how that borrowing will be replaced. The Committee urges the Department for Communities and Local Government to: put pressure on the Treasury to ensure measures to revive the mortgage markets are implemented immediately; increase construction of new social housing, both to provide for housing need and as a means of maintaining capacity in the homebuilding industry whilst the market recovers; accelerate refurbishment programmes for social housing; acquire further social housing through the purchase of unsold stock and street properties; consider the purchase of unsold family homes which have been on the market for more than a year; encourage public sector bodies to make land available for the development of new homes. The report also urges the Government to do more to help those at risk of repossession by considering sanctions against lenders who repossess too quickly and by doing more to protect tenants and homeowners from unscrupulous landlords. An Office of Fair Trading recommendation for sale-and-rent back schemes should be implemented as a matter of urgency to protect the growing number of households falling behind in mortgage payments. The Committee would like to see more done to support housing associations, including increasing social housing grant where necessary.
Author: Peter King
Publisher: Routledge
ISBN: 1135173192
Category : Architecture
Languages : en
Pages : 251
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Book Description
Housing bubbles burst, creating economic misery for millions. Over the past thirty years, the culture of property ownership has become so ingrained that policy makers, bankers and households have taken for granted that housing is a good investment and forgotten about the bust. Explaining how the current crisis in housing markets has arisen, this topical and sharp analysis considers the causes of house price bubbles and the reason for the collapse in markets worldwide. Written for students, it explains the economic cycle of housing, ways in which future booms and busts can be mitigated and how the lessons of this latest housing bubble can finally be learned.
Author: Kate Berry
Publisher:
ISBN:
Category :
Languages : en
Pages : 26
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Book Description
Author: Ashok Bardhan
Publisher: John Wiley & Sons
ISBN: 1118144236
Category : Business & Economics
Languages : en
Pages : 576
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Book Description
A global look at the reasons behind the recent economic collapse, and the responses to it The speculative bubble in the housing market began to burst in the United States in 2007, and has been followed by ruptures in virtually every asset market in almost every country in the world. Each country proposed a range of policy initiatives to deal with its crisis. Policies that focused upon stabilizing the housing market formed the cornerstone of many of these proposals. This internationally focused book evaluates the genesis of the housing market bubble, the global viral contagion of the crisis, and the policy initiatives undertaken in some of the major economies of the world to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals with the housing sector in addition to the financial sector of individual economies. Countries in many parts of the world were players in either the financial bubble or the housing bubble, or both, but the degree of impact, outcome, and responses varied widely. This is an appropriate time to pull together the lessons from these various experiences. Reveals the housing crisis in the United States as the core of the meltdown Describes the evolution of housing markets and policies in the run-up to the crisis, their impacts, and the responses in European and Asian countries Compares experiences and linkages across countries and points to policy implications and research lessons drawn from these experiences Filled with the insights of well-known contributors with strong contacts in practice and academia, this timely guide discusses the history and evolution of the recent crisis as local to each contributor's part of the world, and examines its distinctive and common features with that of the U.S., the trajectory of its evolution, and the similarities and differences in policy response.
Author: Edward L. Glaeser
Publisher: University of Chicago Press
ISBN: 9780226030586
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Conventional wisdom held that housing prices couldn’t fall. But the spectacular boom and bust of the housing market during the first decade of the twenty-first century and millions of foreclosed homeowners have made it clear that housing is no different from any other asset in its ability to climb and crash. Housing and the Financial Crisis looks at what happened to prices and construction both during and after the housing boom in different parts of the American housing market, accounting for why certain areas experienced less volatility than others. It then examines the causes of the boom and bust, including the availability of credit, the perceived risk reduction due to the securitization of mortgages, and the increase in lending from foreign sources. Finally, it examines a range of policies that might address some of the sources of recent instability.
