Managing Real Estate Booms And Busts
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Managing Real Estate Booms And Busts
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Author :
language : en
Publisher:
Release Date : 2011
Managing Real Estate Booms And Busts written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Housing categories.
"To enhance the understanding of macro-prudential policy tools in managing real estate boom and bust episodes and to encourage further inquiry on this topic, the Research Department of the International Monetary Fund and the Bank of Korea co-organized a workshop that took place in Seoul on April 11-12. The workshop brought together representatives from a number of central banks, supervisory agencies, academics, market participants and other experts from various countries and with different perspectives. These experts provided in-depth studies of particular aspects of dealing with real estate booms and busts, with topics matched to the specific countries' use of macroprudential tools or particular circumstances. In-depth discussions followed regarding options for managing real estate booms and busts and lessons learned from each others' experiences and perspectives. A panel discussion focused on lessons for policy makers, markets participants and academics."--Introduction.
Property Boom And Banking Bust
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Author : Colin Jones
language : en
Publisher: John Wiley & Sons
Release Date : 2018-01-09
Property Boom And Banking Bust written by Colin Jones and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-09 with Business & Economics categories.
A fascinating analysis of the critical role commercial property investment played in the economic boom and bust during the global financial crisis The unprecedented financial boom stretching from the mid-1990s through 2008 ultimately led to the deepest recession in modern times and one of the slowest economic recoveries in history. It also resulted in the emergence of the draconian austerity policies that have swept across Europe in recent years. Property Boom and Banking Bust offers an expert insight into the complex property market dynamics that contributed to the Great Financial Crisis of 2008 and its devastating economic consequences. It is the first book to focus on a woefully underreported dimension of the crisis, namely, the significant role that lending on commercial property development played in the crisis. Among other key topics, the authors explore the philosophical and behavioral factors that propelled irresponsible bank lending and the property boom; how it led to the downfall of the banks; the impact of the credit crunch on the real estate industry generally in the wake of the financial crisis; the catastrophic effects the property bust had on property investors, both large and small; and how the financial institutions have sought to recover in the wake of the financial crisis. Provides valuable insights into what happened in previous booms and busts, particularly in the 1970s and 1980s, and how they compare with the most recent one Offers an expert assessment of the consequences of the global financial crisis for the banking system and the commercial property industry Examines strategies banks have used to recover their positions and manage the overhang of indebtedness and bad property assets Addresses strategies the real estate industry have used to recover from the collapse in property values Written in an accessible style, and featuring numerous insider case accounts from property bankers, Property Boom and Banking Bust disentangles the complex, tightly-woven factors that led to the Great Financial Crisis of 2008, while offering powerful lessons for property industry professionals on how to avoid having history repeat itself.
How To Deal With Real Estate Booms
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Author : Mr.Pau Rabanal
language : en
Publisher: International Monetary Fund
Release Date : 2011-04-01
How To Deal With Real Estate Booms written by Mr.Pau Rabanal and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-01 with Business & Economics categories.
The financial crisis showed, once again, that neglecting real estate booms can have disastrous consequences. In this paper, we spell out the circumstances under which a more active policy agenda on this front would be justified. Then, we offer tentative insights on the pros and cons as well as implementation challenges of various policy tools that can be used to contain the damage to the financial system and the economy from real estate boom-bust episodes.
Boom And Bust
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Author : William Quinn
language : en
Publisher: Cambridge University Press
Release Date : 2020-08-06
Boom And Bust written by William Quinn and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-06 with Business & Economics categories.
Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? Boom and Bust reveals why bubbles happen, and why some bubbles have catastrophic economic, social and political consequences, whilst others have actually benefited society.
Boom Bust
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Author : Fred Harrison
language : en
Publisher: Shepheard-Walwyn Limited
Release Date : 2005
Boom Bust written by Fred Harrison and has been published by Shepheard-Walwyn Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
Focusing on the housing market, this book explains why real estate differs from other assets. It explores real estate's ever-growing prices and explains the volatility of the housing market. It proposes a model of tax reform that would allow land and house prices to fall back to affordable levels. A core function of government is to ensure economic stability so that captains of industry and homeowners can save and invest with confidence. Unfortunately, the author argues, inherent in the capitalist system is a destabilising mechanism economists prefer to ignore. Governments are advised to 'manage' the 'free market' through interest rates. The nine years of uninterrupted economic growth in the United States under the management of Alan Greenspan, the Chairman of the Federal Reserve Bank, persuaded many that the secrets of a 'new economy' had been discovered, from which the booms and busts of the old economy had been banished - till the dot com crash. In Britain, the then Chancellor of the Exchequer was praised for his wisdom in handing responsibility for interest rates to the Bank of England. Claiming credit for this, in his 2004 Budget speech he stated: 'I can now report that since 1997 Britain has sustained growth through not just one economic cycle but through two, without suffering the old British disease of stop go'. The author was alerted to an 18-year cycle by a very successful, Washington-based property speculator. His early research into this phenomenon in the UK, US, Japan and Australia was published in his first book, "The Power in the Land" (Shepheard-Walwyn, 1983). Twenty years later, having witnessed his prediction of a recession in 1991/1992 come true, he now exposes the internal mechanism that periodically causes the capitalist economy to crash. Focusing on the housing market, the author explains why real estate differs from other assets. Uniquely, the land market operates according to its own laws, the point economists ignore. In fact it is not the housing market that is the problem, but the land market on which all buildings stand. Land is in fixed supply - as Mark Twain noted: 'They're not making any more of it'. Therefore, as the demand for land for new homes and offices rises with a growing population, market forces, which would normally increase supply and reduce prices, have the reverse effect: prices rise. This encourages speculation with banks rushing in to lend more against escalating asset values, reinforcing the upward spiral. The only way land prices can then be brought back to affordable levels is a slump, undermining the banking system and causing widespread unemployment and repossessions.
The Housing Boom And Bust
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Author : Thomas Sowell
language : en
Publisher: Hachette UK
Release Date : 2010-02-23
The Housing Boom And Bust written by Thomas Sowell and has been published by Hachette UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-23 with Business & Economics categories.
This is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and the even more "creative" marketing of financial securities based on American mortgages to countries around the world, are part of the story of how a financial house of cards was built up -- and then suddenly collapsed. The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened when the financial house of cards in the financial markets collapsed. What to do, now that we are in the midst of an economic disaster, is yet another story -- one whose ending we do not yet know, but one whose outlines and implications are explored to reveal some surprising and sobering lessons.
Are You Missing The Real Estate Boom
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Author : David Lereah
language : en
Publisher: Crown Currency
Release Date : 2005-02-22
Are You Missing The Real Estate Boom written by David Lereah and has been published by Crown Currency this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-02-22 with Business & Economics categories.
Are You Missing the Real Estate Boom? author David Lereah, chief economist for the National Association of Realtors, asks. We are experiencing a historic wealth-building opportunity. To ensure that your don’t miss out, Lereah provides the tools, information, and analysis you need to become a savvy real estate investor. And he shows how to integrate real estate into your overall investment strategies and financial planning goals. Among the information you’ll find in the book: How to become a master at dealing with real estate agents, brokers, and lenders. Which home improvements will result in the greatest long-term gains. How to identify the vacation homes and regions that will increase the most in value. How to finance a first-time home—with or without a big down payment. Why will the real estate boom continue into the next decade? Low interest rates are part of the story. Although mortgage rates have notched up slightly over the last year, they still remain historically very low. Technological advances from online real estate listings to automated underwriting to an explosion of financing options have reduced home ownership costs and simplified the process of buying and selling. Continued high demand from baby-boomers buying larger homes, second homes, and retirement homes, and a new wave of immigrants and “echo” boomers buying first homes, ensure that the boom will continue into the next decade. The long-term fundamentals for housing remain strong into the foreseeable future, claims Lereah. Far from a real estate “bubble,” what we are experiencing today is a phenomenon that takes place only once every other generation: a long-term real estate market expansion. Isn’t it time you started taking advantage of it today? Are you missing the real estate boom? Can you increase your wealth from it? For most people—including current homeowners—the answer is a resounding yes. But it’s not too late to increase your stake in the greatest real estate boom of our generation. Whether you are a first-time buyer or already own your home, Are You Missing the Real Estate Boom? will show you how you can dramatically increase your overall wealth. Author David Lereah, chief economist for the National Association of Realtors, shows why the real estate market is poised to climb higher over the next decade—and explains what you can do to profit from it. Lereah calls today’s market a “once-in-every-other generation opportunity.” Today's boom is not just driven by low interest rates—there are a host of demographic and economic reasons why real estate will continue to outpace other investments, from the growing needs of the baby-boomer generation and the rise of the “echo” boomer generation to the new ways real estate is marketed and sold. Are you a first-time buyer? A current homeowner considering whether or not to trade up? There has never been a better time to do so, Lereah convincingly claims. In Are You Missing the Real Estate Boom?, Lereah explains what to look for when you’re buying a home; which improvements add the most value to your current home; what to consider when purchasing rental properties; how to evaluate real estate investment trusts (or REITs); and the pros and cons of second homes. Full of detailed information on how to work with a real estate agent and a mortgage lender, how to analyze local markets and regional fluctuations, and how to best finance your investment, Are You Missing the Real Estate Boom? offers readers the seasoned advice they need to invest with confidence and reap outsized rewards.
Why The Real Estate Boom Will Not Bust And How You Can Profit From It
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Author : David Lereah
language : en
Publisher: Crown Currency
Release Date : 2007-12-18
Why The Real Estate Boom Will Not Bust And How You Can Profit From It written by David Lereah and has been published by Crown Currency this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-18 with Business & Economics categories.
We are experiencing a historic wealth-building opportunity, says David Lereah, chief economist for the National Association of Realtors. As Lereah has predicted, the double-digit appreciation boom–far from a real estate “bubble”–is winding down to a healthy real estate expansion that will keep the long-term fundamentals for housing strong into the foreseeable future. To ensure that you don’t miss out, Lereah provides the tools, information, and analysis you need to become a savvy real estate investor.
Financial Crises Explanations Types And Implications
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Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-30
Financial Crises Explanations Types And Implications written by Mr.Stijn Claessens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-30 with Business & Economics categories.
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Bubbles Booms And Busts
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Author : Donald Rapp
language : en
Publisher: Springer
Release Date : 2014-11-14
Bubbles Booms And Busts written by Donald Rapp and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-14 with Business & Economics categories.
This book deals at some length with the question: Since there are many more poor than rich, why don’t the poor just tax the rich heavily and reduce the inequality? In the 19th century and the first half of the 20th century, the topic of inequality was discussed widely. Ending or reducing inequality was a prime motivating factor in the emergence of communism and socialism. The book discusses why later in the 20th century, inequality has faded out as an issue. Extensive tables and graphs of data are presented showing the extent of inequality in America, as well as globally. It is shown that a combination of low taxes on capital gains contributed to a series of real estate and stock bubbles that provided great wealth to the top tiers, while real income for average workers stagnated. Improved commercial efficiency due to computers, electronics, the Internet and fast transport allowed production and distribution with fewer workers, just as the advent of electrification, mechanization, production lines, vehicles and trains in the 1920s and 1930s produced the same stagnating effect.