IMF: Russian housing market vulnerable to external shocks
A paper published by the IMF in April suggests that house-price developments in former Soviet Union countries can largely be explained by the dynamics of fundamentals, such as GDP, remittances, and external financing.
The paper analyses the recent boom-bust cycle in the housing markets of selected former Soviet Union countries using a newly constructed database on house prices in the States. The inclusion of external inflows as determinants of house prices makes the analysis different from
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