Chart of the WeekCanada’s Housing Market Slowdown

2019-08-07T07:54:48-04:00August 7, 2019|

By IMFBlog

Following a period of escalating prices, Canada’s housing market is cooling. Measures designed to strengthen financial stability such as more stringent tests of borrowers’ ability to repay their loans, along with higher interest rates, combined to make mortgage financing more expensive. […]

For Home Prices in London, Check the Tokyo Listings

2019-03-14T12:53:06-04:00April 10, 2018|

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 […]

Propping Up the Chinese Economy: Credit versus Fiscal Stimulus

2019-03-14T16:17:51-04:00December 12, 2017|

By Sophia Chen and Lev Ratnovski

December 13, 2017

Version in 中文 (Chinese), Español (Spanish), 日本語  (Japanese)

Construction work Qingyuan , Guangdong, China : Fiscal stimulus is a powerful tool for growth (photo: Imagine China/Newscom).

Credit booms are addictive. Credit supports growth and the perception of wealth. Yet credit booms are risky, and are often followed by financial busts and economic slowdowns. The challenge is […]

Chart of the Week: Norway’s Home-Price Boom

2019-03-25T13:49:27-04:00July 10, 2017|

By IMFBlog

July 10, 2017 

A crane looms over the city of Oslo, Norway: Constraints on new construction limit the supply of housing, driving up prices (photo: Ingram Publishing/Newscom)

Think Londoners and New Yorkers have it bad when it comes to sky-high house prices? Residents of Oslo have reason to gripe, too.

House prices in the Norwegian capital are among the world’s highest, as measured by the average cost of […]

Chart of the Week: Global House Prices—Where Is the Boom?

2019-03-26T09:29:06-04:00March 27, 2017|

By IMFBlog

Versions in عربي (Arabic), 中文 (Chinese), Français (French), Русский (Russian), and Español (Spanish)

While house prices around the world have rebounded over the last four years, a closer look reveals that this uptick is dependent on three things: location, location, location.

The IMF’s Global House Price Index—an average of real house prices across countries—has been rising for the past four years. However, house prices are not rising in every country. As noted in our November 2016 Quarterly Update, house price developments in the countries that make up the index fall into three clusters: […]

Global House Prices: Time to Worry Again?

2019-03-26T14:19:31-04:00December 8, 2016|

By Hites Ahir and Prakash Loungani

Versions in: عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)

During 2007-08, house prices in several countries collapsed, marking the onset of a global financial crisis. The IMF’s Global House Price Index, a simple average of real house prices for 57 countries, is now almost back to its level before the crisis (Chart 1). Is it time to worry again about a global fall in house prices?  […]

China’s Housing Market: Defying the Odds?

2019-03-27T12:10:48-04:00February 1, 2016|

by iMFdirect

Housing is on everyone’s mind. The collapse of housing bubbles can be very costly.

  • In Japan, house prices rose by about 40 percent during the mid-1980s; the collapse was followed by a ‘lost decade’ in which incomes did not grow and house prices fell by over 40 percent.
  • In the United States, house prices increased by about 30 percent between 2001 and 2006; their collapse was followed by the global financial crisis.

[…]

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