Logo der Universität Basel

Research Database / FORSCHUNGSDATENBANK 
PRINTDOC
 
Publication 4512682 | Verified
 

Data Entry: Please note that the research database will be replaced by UNIverse by the end of October 2023. Please enter your data into the system https://universe-intern.unibas.ch. Thanks

Login for users with Unibas email account...

Login for registered users without Unibas email account...

 
A Novel Housing Price Misalignment Indicator for Germany
JournalArticle (Originalarbeit in einer wissenschaftlichen Zeitschrift)
 
ID 4512682
Author(s) Hertrich, Markus
Author(s) at UniBasel Hertrich, Markus
Year 2019
Title A Novel Housing Price Misalignment Indicator for Germany
Journal Deutsche Bundesbank Discussion Paper
Volume 20
Number 4
Pages / Article-Number E759-E794
Abstract From 2014 until present, housing prices in Germany have been rising faster than consumer prices in all quarters except one, raising concerns about an excessive overheating of the housing market. To assess the vulnerability of the German housing market to a future realignment of prices or even a housing bust, this paper develops a housing price misalignment indicator that is composed of seven indicators, which are commonly associated with the fundamental value of residential property. An empirical application to the most recent data suggests that the German housing market exhibits an overvaluation of approximately 11%, where interest rate risk and a relatively advanced stage of the housing cycle are identified as the main factors fueling these imbalances, while a rather solid debt‐servicing capacity mitigates these imbalances since end‐2009.
Publisher Deutsche Bundesbank
ISSN/ISBN 978–3–95729–616–0 ; 978–3–95729–617–7
edoc-URL https://edoc.unibas.ch/71829/
Full Text on edoc No
Digital Object Identifier DOI 10.1111/geer.12185
ISI-Number WOS:000480895300001
Document type (ISI) Article
 
   

MCSS v5.8 PRO. 0.348 sec, queries - 0.000 sec ©Universität Basel  |  Impressum   |    
24/04/2024