Mortgage credit and house prices: The housing market equilibrium revisited

Over the last decade, house prices have increased substantially in nearly all OECD countries. These house price increases frequently coincided with changes in mortgage credit conditions; i.e., decreases in the interest rate and increases in income. This is in line with existing literature, which finds an equilibrium relationship between...

House Price Risk and Sub-District House Price Dynamics: The Case of Amsterdam

The recent Global Financial Crisis has lent even greater urgency to the need for households to understand the risks and dynamics of the residential property market better. This paper uses a rich dataset on individual residential property transactions between 1995 and 2014 in Amsterdam to study the risks and the inter-dependency of house prices...