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Housing And Housing Finance In An Era Of Inflation And Disinflation: Introduction

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  • JOHN C. WEICHER

Abstract

So far, the 1980s have been the decade of disinflation in the housing market. The United States has experienced four remarkable years during which house prices have declined in real terms, and, at least in some markets, in nominal terms as well. At the same time, mortgage interest rates have risen to unprecedented levels, and the housing finance system has experienced extraordinary stresses, which are contributing to a remarkably rapid process of fundamental structural change. This comes immediately after a 15‐year period of variable, but persistent and accelerating inflation, culminating in a speculative housing boom from 1977 to 1979.

Suggested Citation

  • John C. Weicher, 1984. "Housing And Housing Finance In An Era Of Inflation And Disinflation: Introduction," Contemporary Economic Policy, Western Economic Association International, vol. 2(6), pages 1-4, May.
  • Handle: RePEc:bla:coecpo:v:2:y:1984:i:6:p:1-4
    DOI: 10.1111/j.1465-7287.1984.tb00779.x
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    References listed on IDEAS

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    1. Philip Cagan & Robert E. Lipsey, 1978. "The Financial Effects of Inflation," NBER Books, National Bureau of Economic Research, Inc, number caga78-1, March.
    2. John C. Weicher, 1978. "New Home Affordability, Equity, and Housing Market Behavior," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 6(4), pages 395-416, December.
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