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Author/Editor:
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Cubeddu, Luis M. ; Tovar Mora, Camilo Ernesto ; Tsounta, Evridiki
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Publication Date:
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July 01, 2012
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Electronic Access:
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Free Full text
(PDF file size is 939KB).
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper documents developments in mortgage credit and the housing sector in Latin America over the past decade, and compares them with those of other emerging economies. In particular, it examines the real estate and mortgage markets to assess whether (i) growth in mortgage credit is excessive compared to long-term trends; (ii) trends in house prices reflect changes in economic fundamentals; and (iii) the extent to which household and banking sector vulnerabilities could lead to potential fragilities. Although data limitations hamper a rigorous analysis of trends, our analysis suggests that while there are no imminent misalignments in the real estate and mortgage sectors, they could emerge if current trends persist. Strengthening supervision and addressing data gaps is thus critical to ensure adequate monitoring of risks and vulnerabilities in these sectors.
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Order a print copy
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Series:
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Working Paper No. 12/193
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Author's Keyword(s):
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Mortgage | credit | real estate | housing prices | data gaps |
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English
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Publication Date:
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July 01, 2012
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Format:
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Paper
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Stock No:
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WPIEA2012193
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Pages:
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27
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Price:
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US$18.00 )
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Please address any questions about this title to
publications@imf.org
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