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China's Housing Market: Is a Buggle about to Burst?

Author

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  • Barth, James R.

    (Auburn University and University of PA)

  • Lea, Michael
  • Li, Tong

Abstract

The recent meltdown of the U.S. housing market triggered a financial crisis that evolved into the worst recession since the Great Depression. Other mature countries such as Ireland and Spain also have suffered severe housing problems in the past few years. Those difficulties continue to be a drag on economic growth. In the United States, for example, the residential housing market is still seeking to recover to a steadier condition, and home prices have yet to return to their historical trajectory in many regions. The current "shadow inventory" of delinquent and foreclosed homes is taking time for the market to absorb, which impedes employment growth in construction and related sectors and thus overall economic growth.

Suggested Citation

  • Barth, James R. & Lea, Michael & Li, Tong, 2012. "China's Housing Market: Is a Buggle about to Burst?," Working Papers 13-05, University of Pennsylvania, Wharton School, Weiss Center.
    • Handle: RePEc:ecl:upafin:13-05
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    File URL: http://fic.wharton.upenn.edu/fic/papers/13/13-05.pdf
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    Cited by:

    1. De, Prabal K. & Segura-Escano, Raul, 2021. "Drinking during downturn: New evidence from the housing market fluctuations in the United States during the Great Recession," Economics & Human Biology, Elsevier, vol. 43(C).
    2. Steven Rosefielde & Yiyi Liu, 2018. "Local Public Debt Management: Lessons From Greece In Inclusive Economic Perspective," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(04), pages 967-980, September.

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