Housing markets
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
German house prices rise by slowest rate since 2014 – Bundesbank
Housing prices continue to rise but at slower rate, especially in major cities
Credit-fuelled construction booms lead to busts – IMF research
Credit booms that lead to rapid growth in construction more likely to end in crisis, researchers find
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
Paper takes ‘Hank’ approach to eurozone policy transmission
Authors identify three key dimensions of household heterogeneity
ECB largely welcomes move to expand German macro-pru powers
ECB says measures giving BaFin greater powers are “appropriate”, but need better data
Ageing populations will keep interest rates low – BdF paper
Housing availability can attenuate decline in rates, authors find
Effects of Irish and Dutch macro-pru differ strongly – DNB paper
Researchers look at interaction of monetary and macro-prudential policy in two eurozone economies
Home-ownership affected by culture, Bundesbank paper finds
Researchers find strong variation in home-owning by different US immigrant groups
RBA considered cut at latest meeting – minutes
Case was made for monetary easing, but board opted to wait for data on previous cuts before launching further policy action
Debelle analyses impact of mortgage arrears
Mortgage arrears are at historical low, Australian deputy says; trends in Western Australia could be informative in a downturn
Belgian and Slovene central banks tighten macro-prudential regimes
NBB warns of Belgian mortgage risks and Slovene central bank cautions over consumer loans
National differences affect eurozone house loans – ECB paper
Study looks at banks owned by same groups but operating in different eurozone countries
Croatian governor warns ECB spillovers are raising real estate prices
IMF should advise less separation between macro-prudential and monetary tools, Boris Vujčić says
Mortgage caps can be higher for insured borrowers – DNB paper
Loan-level data from Netherlands shows insurance cuts risk of non-performance, say researchers
RBI weighs plan to boost securitisation market
Government-sponsored intermediary could be formed to act as market maker and standard setter
China changes mortgage rates anchor to curb housing risks
Home loan rates may be set higher to avoid real estate bubbles as central bank seeks lower rates for rest of the economy
Macro-prudential policy needs range of tools – Bundesbank paper
Model assesses effectiveness of capital buffers, LTV ratios and sectoral risk-weighting
RBNZ publishes debt-to-income dataset
Data provides insight into how households might react to a financial shock, central bank says
Rate cuts support Australia’s economy – RBA assistant governor
RBA cuts rates to record lows in two successive months as GDP growth slows
Bank of Spain study looks at growing rental market
Stagnant incomes, regional disparities and falling loan-to-value levels are pushing growth in renting
Institutional approaches are key factor in mortgage defaults – BoE paper
European countries show major differences in mortgage default factors, researchers find
BoE paper questions technological explanations for falling ‘labour share’
Measurement problems may account for less income seeming to flow to workers, authors say