The Global Housing Watch tracks developments in housing markets across the world on a quarterly basis. It provides current data on house prices as well as metrics used to assess valuation in housing markets, such as house price‑to‑rent and house-price‑to‑income ratios.
The main features of boom-bust cycles in housing markets are by now all too familiar. During booms, conditions such as lax lending standards and low interest rates help drive up house prices and with them mortgage debt. When the bust arrives, over-indebted households find themselves underwater on their mortgages--owing more than their homes are worth. Read the blog.
Developments in real estate markets have led to seemingly contradictory concerns about both overheating and slow recovery. This dichotomy reflects the fact that housing markets across the globe have broadly followed a two-speed pattern: in one group of countries, housing markets quickly rebounded after modest declines during the Great Recession, while in the other group they are still recovering from much sharper declines. Read more...
SWITZERLAND: TECHNICAL NOTE
Current macroprudential policies appear well balanced, but some reforms of the framework should be considered. Further tightening and additional tools to address potential imbalances in the housing and mortgage markets may be warranted.
UNITED ARAB EMIRATES: SELECTED ISSUES
The newly announced megaprojects and investment in the run-up to the World Expo 2020 could exacerbate risks of potentially disruptive real estate correction, unless managed well. While the authorities have introduced some fiscal and macroprudential measures to contain real estate price growth and further bolster financial stability, cross-country experience suggests that additional measures may be needed.
Resources on Housing Prices
Other Research at the IMF
Last Updated: December 10, 2014