House prices
House price distortions slow European growth – Estonian paper
Misaligned prices amplify business cycles in short run but damage growth over long run – researchers
BIS paper explores impact of demographics on house prices
Study focuses on Korea’s “exceptionally rapid” demographic change
House price consideration could be added to mandate – RBNZ’s Orr
New Zealand’s governor argues house prices are not the remit of monetary policy
RBNZ considers greater focus on house prices in MPC decisions
Government is concerned house price rises are excluding people from the market
Dollar funding drives global house price movements – BIS paper
Non-US banks often depend heavily on dollar funding to issue mortgages, authors show
BoE paper explores global financial cycles since 1880
Cycles in credit and housing have become more pronounced, but only for some economies
Lower refinancing can dampen economic recovery – Fed research
US mortgage refinancing activity remained muted after falling during 2008 crisis, researchers find
RBNZ lifts mortgage lending restrictions for one year
New Zealand's central bank says latest crisis move will not weaken financial resilience
US default rates could hit 8.1% without policy action – Richmond Fed
Loan forbearance policies could see this drop to “essentially zero” in 2021, researchers say
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
Dutch economy more volatile than European peers – DNB research
Changes to pension system, mortgage markets and budgets could reduce volatility, paper argues
Canadian mortgage tweaks may add to housing imbalances – economists
Government’s policy change likely to lower qualifying hurdle for mortgages in the near term
Some countries’ macro-pru measures have reduced systemic risk – IMF paper
Denmark and Czech Republic particularly successful in cutting mortgage risk, researchers find
International investors shaping housing markets – DNB paper
External investment playing larger role but national differences still significant, paper says
Global property investors may undermine macro-pru – CGFS
House prices are rising and increasingly synchronised, BIS committee says
German house prices rise by slowest rate since 2014 – Bundesbank
Housing prices continue to rise but at slower rate, especially in major cities
DNB to tighten macro-pru over real estate fears
EBA says Dutch central bank fears overheating after house prices in large cities exceed previous peak
Twelve countries’ financial sectors under IMF spotlight in 2020
Fund reveals which nations will undergo financial stability assessments, detailing which areas will face greater scrutiny
ECB’s Mersch warns of negative side-effects of ultra-loose policies
Policies may be contributing to risk-taking, high asset-price inflation and inequality, board member says
Global house price growth slows, but China still surging
BIS figures show broad slowdown in growth, though prices are still rising fast in some places
China trims new benchmark rate amid inflation dilemma
PBoC cuts one-year benchmark rates again, but surging inflation remains an issue
Fed ramping up climate change research efforts – Lael Brainard
Climate change could impact neutral rate, governor says; Fed can’t afford to ignore the issue, San Fran Fed’s Mary Daly adds
Croatian governor warns ECB spillovers are raising real estate prices
IMF should advise less separation between macro-prudential and monetary tools, Boris Vujčić says
BoE paper explores collateral’s impact on labour market
Collateral value affects hiring decisions by small businesses, authors find