Property Guides and Information for the Costa del Sol, Spain

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Housing price bubbles - a tale based on housing price booms and busts.

Thomas Helbing / International Monetary Fund

The purpose of this paper is to establish the main empirical regularities of housing price booms and busts in industrial countries over the last 30 years – the focus on booms and busts obviates the need to measure or explain “bubbles”, which, as noted below, remains highly controversial. In particular, the paper will address the following questions:
• How frequent were housing price booms and busts? How often did housing price booms end in busts?
• What were the real consequences of housing price booms and busts? Were busts always associated with severe implications for economic activity? Were the implications of housing price boom-bust cycles different from that of other housing price cycles?
• What was the relationship between housing price boom-busts and interest rates? Were credit market conditions and housing price booms related?

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August 19, 2005 | Category: Property Market Reports

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All of the information was researched at the time of writing and publishing these articles and is to our best knowledge correct and up to date. Bright is not responsible for changes that occur through updates in Spanish legislature. Bright is also not responsible for any errors in any of the literature or advice published on this site.