Housing Finance and Real-Estate Booms: A Cross-Country Perspective
IMF
Download Document| Date Published | 2015 |
| Version | |
| Primary Author | Eugenio Cerutti, Jihad Dagher, and Giovanni Dell'Arricia |
| Other Authors | |
| Theme | Housing Market & Urban Indicators, Comparing Housing Finance Systems, Real Estate Cycles and Bubbles |
| Country |
Abstract
This note analyzes mortgage markets across countries, documenting the heterogeneity of housing finance institutions. It asks whether housing finance characteristics (for example, mortgage characteristics); institutional factors (for example, rule of law); and/or macro factors (for example, inflation volatility) can predict cross-country differences in mortgage-market depth. Further, it explores the benefits of housing-finance development for home ownership, and more generally, welfare.