Housing markets
Singapore moves to curb private housing boom
Buyers have to pay higher taxes and face tougher loan-to-value limits
Book notes: Unfinished business, by Tamim Bayoumi
Anand Sinha praises Bayoumi’s analysis of how the euro crisis and US housing crash were, in fact, intertwined
Housing inequality creates credit inequality – NY Fed’s Hirtle
Older people with less need of credit have seen the value of their collateral rise more
Dramatic fall in Bitcoin price correlates with introduction of futures, authors argue
Dramatic fall in Bitcoin price correlates with introduction of futures, authors argue
ECB calls for reforms to macro-prudential framework
“Pecking order” for activating responses should go, ECB says; framework needs “comprehensive review"
Curbs on interest-only loans have cut risks – RBA’s Kent
Regulatory actions have helped reduce risks in what had been a fast-growing sector
Canadian households may be responding to higher interest rates - Poloz
Canadian governor says higher interest rates will be warranted “over time”
Financial conditions in Denmark tighten in Q1
Implementation of new mortgage lending regulation is the main cause of credit reduction
RBA paper offers new way to add housing sector to DSGE models
Authors find their model delivers “reasonable” forecast performance
Norway maintains countercyclical capital buffer at 2%
Norges Bank advises the government not to reduce the buffer because of high household debt
ECB criticises Irish draft law on mortgage arrears
Draft law could encourage moral hazard and harm legal certainty, says ECB
MAS needs expanded resolution powers, FSB report says
Singapore's central bank should clarify oversight of macro-prudential policies, says peer review
Solving the owner-occupied housing puzzle
A group of researchers has outlined what they see as a better method of integrating owner-occupied housing into the CPI, as the EU’s statistical agency wrestles with the problem
Asian property developers face tougher scrutiny amid house price boom
Hong Kong and Singapore are putting more scrutiny on loans to property developers, as their housing markets continue to heat up
Interest rate risk could be seed of next crisis – economists
Financial markets may have underestimated the persistence of low rates, and regulations have amplified the threat, say Srichander Ramaswamy and Philip Turner
Consumption closely tied to house prices in Netherlands – research
Strong correlation attributed to structural features of mortgage market
Cyclical price analysis needs major improvements – ECB paper
Researchers say DSGE models’ handling of housing prices is subject to errors
Irish central bank gets major budget increase
Commission members criticise bank’s handling of tracker mortgages
CNB ramps up financial stability department role
Central bank “elevates” the department in its governance structure to reflect its growing importance; hikes countercyclical buffer amid lending boom
UK households pessimistic about fortunes in 2018
Survey published by BoE reveals UK households do not expect an improvement in their financial positions in the coming year
Bank of Canada is focusing on household debt levels, governor says
Governor says levels of debt keep him awake at night
Mortgage modifications were key to cutting Irish NPLs
Scale of modifications was larger than previously thought, research finds
Quick action needed to tackle housing busts – RBNZ paper
Paper studies housing busts around the world and how best to respond to them
House prices in German towns may be overvalued by 30% - Bundesbank
Overall housing market risk still seems to be “limited”, Bundesbank says