Download or read book Housing Market Stability and Affordability in Asia Pacific written by Mr. Pragyan Deb and published by International Monetary Fund. This book was released on 2022-12-14 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper intends to highlight challenges in Asian housing markets linked to fast price rises especially in the advanced economies since COVID, and more broadly including many EMs in the period leading up to COVID. It aims to draw policy lessons on how to manage stability aspects through macroprudential and other policies and how to support affordability through structural policies and targeted government support.
Download or read book Housing Policy Wellbeing and Social Development in Asia written by Rebecca Lai Har Chiu and published by Routledge. This book was released on 2018-05-11 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates how housing policy changes in Asia since the late 1990s have impacted on housing affordability, security, livability, culture and social development. Using case study examples from countries/cities including China, Hong Kong, India, Japan, Taiwan, Korea, Malaysia, Bangladesh, Singapore, Indonesia, Thailand and Vietnam, the contributors contextualize housing policy development in terms of both global and local socio-economic and political changes. They then investigate how policy changes have shaped and re-shaped the housing wellbeing of the local people and the social development within these places, which they argue should constitute the core purpose of housing policy. This book will open up a new dimension for understanding housing and social development in Asia and a new conceptual perspective with which to examine housing which, by nature, is culture-sensitive and people-oriented. It will be of interest to students, scholars and professionals in the areas of housing studies, urban and social development and the public and social policy of Asia.
Download or read book Dynamics of Housing in East Asia written by Bertrand Renaud and published by John Wiley & Sons. This book was released on 2016-03-03 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first to evaluate the organisation, behaviour and performance of six major East Asian real estate markets. It offers a unique analysis of the growth and transformation of the real estate sector across East Asia. The authors examine the interactions between volatility in the sector and the overall stability of the economy, in particular during the Asia financial crisis of 1997-98, and the global financial crisis of 2008-09. draws on the best available theoretical and empirical literature applies analytic tools in the context of East Asian institutions and policies helps understand factors affecting resilience and stability in East Asian real estate markets.
Download or read book Housing Affordability and Housing Policy in Urban China written by Zan Yang and published by Springer Science & Business Media. This book was released on 2014-01-25 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive analysis of housing affordability under the economic reforms and social transformations in urban China. It also offers an overall review of the current government measures on the housing market and affordable housing policies in China. By introducing a dynamic affordability approach and residual income approach, the book allows us to capture the size of the affordability gap more accurately, to better identify policy targets, and to assess the effectiveness of current public policy. The unique database on urban household surveys and regional information on affordable housing projects serve to strengthen the analysis. The book offers theoretical and empirical insights for in-depth affordability studies and helps readers to understand the social impacts of market reforms and the role of government on the Chinese housing market.
Download or read book Stabilizing China s Housing Market written by Richard Koss and published by International Monetary Fund. This book was released on 2018-04-13 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp rise of house prices in China’s Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China’s unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist. These include the setting of land supply and prices by the government, among many others. The presence of overbuilt “ghost cities” greatly complicates the ability of traditional macroeconomic policies to address these concerns. This paper looks at proposals to shore up the mortgage underwriting and legal infrastructure to help China withstand the impact of falling prices, should this occur.
Download or read book International Housing Market Experience and Implications for China written by Rebecca L. H. Chiu and published by Taylor & Francis. This book was released on 2019-03-18 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent rapid housing market expansion in China is presenting new challenges for policy makers, planners, business people, and citizens. Now that housing in middle-income China is driven by consumer choices and is no longer dominated by state policy decisions, housing policy issues in Chinese cities are becoming increasingly similar to those encountered in other global housing markets. With soaring prices and imbalances in housing supply favoring high income groups and housing demand driven by rising inequality in household incomes, many middle and lower-income households face worsening choices in terms of the quality and location of their housing as well as greater financial difficulties, which together can have negative implications for standards of public health. This book examines the impact of these changes on the general population, as well as on aspiring homeowners and developers. The contributors look at the effect on the widening of wealth gaps, slower economic growth, and threats to political and social stability. Though focusing on China, the editors also present discussions of specific policy design challenges encountered in Australia, Japan, Korea, the Netherlands, the Nordic countries, Singapore, Taiwan, the UK, and the US. This book would be of interest to housing policy makers, as well as academics who are studying the social and political effects of the Chinese housing market.
Download or read book Access to Affordable and Low Income Housing in East Asia and the Pacific written by Weltbank and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Across the world, the housing sector plays a key role in local and national economies, and expanding access to housing can encourage more equitably shared economic growth. This report surveys current policy interventions designed to encourage affordable housing in East Asia and the Pacific (EAP). The purpose of this report is to provide a general overview of the recent trends in urbanization and development in EAP and to consider different forms of government, market, and nonprofit actions that support housing affordability. It will also highlight key constraints and barriers that restrict the provision of low-cost housing in urban areas. Housing is important because it represents a significant household expenditure. The report assesses the strengths and limitations of affordable housing strategies used by different countries throughout EAP. This report offers broad conclusions that account for the broad social, political, and institutional variation among EAP countries; as such, these conclusions may well be applicable to more than one country context. The report also provides specific recommendations for improvement where existing interventions are new or have proven less successful. The report is divided into following chapters: chapter one gives introduction. Chapter two examines trends in urbanization rates, economic development, and inequality in order to introduce the need for high-quality, low-cost housing options. Chapter three examines EAP regional trends in urban housing affordability for owners and renters from select cities. Chapter four outlines future directions for affordable housing provision based on a comparative consideration of international best practices. Finally, chapter five surveys different affordable housing policies currently in place in EAP and summarizes their strengths and weaknesses.
Download or read book The Pricing Out Phenomenon in the U S Housing Market written by Francesco Beraldi and published by International Monetary Fund. This book was released on 2023-01-06 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic further extended the multi-year housing boom in advanced economies and emerging markets alike against massive monetary easing during the pandemic. In this paper, we analyze the pricing-out phenomenon in the U.S. residential housing market due to higher house prices associated with monetary easing. We first set up a stylized general equilibrium model and show that although monetary easing decreases the mortgage payment burden, it would raise house prices, lower housing affordability for first-time homebuyers, and increase housing wealth inequality between first-time and repeat homebuyers. We then use the U.S. household-level data to quantify the effect of the house price change on housing affordability relative to that of the interest rate change. We find evidence of the pricing-out effect for all homebuyers; moreover, we find that the pricing-out effect is stronger for first-time homebuyers than for repeat homebuyers. The paper highlights the importance of accounting for general equilibrium effects and distributional implications of monetary policy while assessing housing affordability. It also calls for complementing monetary easing with well-targeted policy measures that can boost housing affordability, particularly for first-time and lower-income households. Such measures are also needed during aggressive monetary tightening, given that the fall in house prices may be insufficient or too slow to fully offset the immediate adverse impact of higher rates on housing affordability.
Download or read book World Economic Outlook April 2024 written by International Monetary and published by International Monetary Fund. This book was released on 2024-04-16 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: The latest World Economic Outlook reports economic activity was surprisingly resilient through the global disinflation of 2022–23, despite significant central bank interest rate hikes to restore price stability. Risks to the global outlook are now broadly balanced compared with last year. Monetary policy should ensure that inflation touches down smoothly, while a renewed focus on fiscal consolidation is needed to rebuild room for budgetary maneuver and to ensure debt sustainability. Structural reforms are crucial to revive medium-term growth prospects amid constrained policy space.
Download or read book Australia written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2018-02-20 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2017 Article IV Consultation highlights that Australia has enjoyed a comparatively robust economic performance while adjusting to the end of the commodity price and mining investment booms of the 2000s. The recovery from these shocks has advanced further in 2017. Aggregate demand has been led by strong public investment growth amid a boost in infrastructure spending and private business investment has picked up, but private consumption growth has remained subdued. Employment growth has strengthened markedly over the year, although the economy is not yet back at full employment. Wage growth is weak and inflation is below its target range. The macroeconomic policy stance has become more supportive with the infrastructure investment boost.
Download or read book Ireland written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2023-12-15 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ireland: Selected Issues
Download or read book Proceedings of 2010 International Conference of Asia Pacific Network for Housing Research APNHR written by Jianping Ye and published by . This book was released on 2010 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Urban Governance in Southeast Asia written by Ambe J. Njoh and published by Springer Nature. This book was released on with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Weekend That Changed Wall Street written by Maria Bartiromo and published by Penguin. This book was released on 2011-09-27 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: America's most famous business reporter gives her unique perspective on the white-knuckle weekend that brought the financial world to its knees. During a single historic weekend (September 12-14, 2008) the fate of Lehman Brothers was sealed, Merrill Lynch barely survived, and AIG became a ward of the federal government. Top CNBC anchor Maria Bartiromo spent the entire weekend taking frantic phone calls from the most powerful players on Wall Street and in Washington, as they toiled to keep the economy from complete collapse. Those CEOs and dozens of other sources gave Bartiromo behind-the-scenes details unavailable to other members of the media, of the crisis and its aftermath. Now she draws on her high-level network to provide an eyewitness account of the biggest events of the financial crisis including at length interviews with former treasury secretary Henry Paulson, former AIG chairman Hank Greenberg, former Merrill Lynch CEO John Thain, and JP Morgan CEO Jamie Dimon, among many others. Writing with both authority and dramatic flair, Bartiromo weaves a thrilling narrative that will make news. She also tackles the big questions: how did an unmatched period of market euphoria and growth turn sour, catapulting the economy into a dangerous slide? And in the long run, how will the near-catastrophe really change Wall Street?
Download or read book Regional Economic Outlook Asia and the Pacific October 2022 written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2022-10-28 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the strong rebound of 6.5 percent posted in 2021, growth in Asia and Pacific is expected to moderate to 4.0 percent in 2022 amid an uncertain global environment and rise to 4.3 percent in 2023. Inflation has risen above most central bank targets, but is expected to peak in late 2022. As the effects of the pandemic wane, the region faces new headwinds from global financial tightening and an expected slowdown of external demand. While Asia remains a relative bright spot in an increasingly lethargic global economy, it is expected to expand at a rate that is well below the average rate of 51⁄2 percent seen over the preceding two decades. Policy support is gradually being withdrawn as inflation rises and idle capacity is utilized, but monetary policy should be ready to tighten faster if the rise in core inflation turns out to be more persistent. The region’s rising public debt lev¬els call for continued fiscal consolidation, so interven¬tions to mitigate global food and energy shocks should be well targeted, temporary, and budget neutral. Structural reforms are needed to boost growth and mitigate the scarring that is expected from the pan¬demic, especially making up for lost schooling through investments in education and training, promoting diversification, addressing the debt overhang from the pandemic, and harnessing digitalization. Strong multilateralism—including through international organizations, the Group of Twenty and regional processes—will be needed to mitigate geo-economic fragmentation and deliver much needed progress on climate change commitments.
Download or read book International Models for Delivery of Affordable Housing in Asia written by Christine M. E. Whitehead and published by . This book was released on 2019 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Malaysia written by International Monetary Fund. Asia and Pacific Dept and published by International Monetary Fund. This book was released on 2020-02-28 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2020 Article IV Consultation highlights that the Malaysian economy is stable despite domestic and external challenges. The authorities are making progress on their reform agenda including governance reforms and measures to improve the transparency and management of public finances. Policies should focus on medium-term fiscal consolidation, while safeguarding growth and financial stability. Structural reforms are needed to enshrine in law main governance measures, and to boost productivity to achieve high income status and inclusive growth. Growth has held up and inflation has remained subdued. Domestic demand is expected to be the main driver of growth over the medium term. Risks to the outlook are, on balance, to the downside. It is recommended to that medium-term fiscal consolidation plans should be underpinned by well-identified revenue and spending measures. Pushing ahead with structural fiscal reforms, including the adoption of a Fiscal Responsibility Act, as well as improvement in debt management, public procurement, and the public investment framework is important.
