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Housing Markets in Europe and in the USA: What Are the Relevant Issues Today?

In: Housing Market Challenges in Europe and the United States

Author

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  • Peter Mooslechner
  • Karin Wagner

Abstract

While housing markets and housing finance have undergone remarkable changes over the past decades, both in the USA and in Europe, housing continues to play an important role in the economy. In a significant number of recessions, the housing sector has preceded if not caused the economic downturn — a stylized fact — also underlined by the current financial turmoil and economic crisis. At the same time, there has been a significant increase in indebtedness of private households. In this chap-ter we take a closer look at some of the fundamental factors behind this trend of increasing mortgage growth. In particular, the chapter analyzes some of the recent changes observed in housing finance and studies key aspects of the economic relevance of housing markets in the present context.

Suggested Citation

  • Peter Mooslechner & Karin Wagner, 2009. "Housing Markets in Europe and in the USA: What Are the Relevant Issues Today?," Palgrave Macmillan Books, in: Philip Arestis & Peter Mooslechner & Karin Wagner (ed.), Housing Market Challenges in Europe and the United States, chapter 2, pages 15-39, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24698-0_2
    DOI: 10.1057/9780230246980_2
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    Cited by:

    1. Andrea Kunnert & Josef Baumgartner, 2012. "Instrumente und Wirkungen der österreichischen Wohnungspolitik," WIFO Studies, WIFO, number 45878, April.

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