By Claudio Raddatz Kiefer and Jane Dokko
April, 10, 2018
Versions in عربي (Arabic); 中文 (Chinese), Español (Spanish), Français (French), 日本語 (Japanese), Português (Portuguese)
Hong Kong viewed from Victoria Peak. House prices across countries and cities are increasingly moving in tandem (Photo: Fraser Hall/Robert Harding/Newscom).
If house prices are rising in Tokyo, are they also going up in London?
Increasingly, the answer is yes.
In recent decades, house prices around the world have shown a growing tendency to move in the same direction at the same time. What accounts for this phenomenon, and what are the implications for the world economy? These are questions that IMF economists explore in Chapter 3 of the latest Global Financial Stability Report. (more…)