Do Credit Conditions Move House Prices?
All three sets of approaches indicate that shocks to credit supply signifi- cantly increase house prices and the price-rent ratio, but have a much smaller and ...
US Growth, the Housing Market and the Distribution of IncomeWith financial liberalization and the decline in interest rates, household debt has risen steadily as a share of income. (figures 4 and 5), and if the ... monetary policy and housing prices in an estimated dsge model for ...When monetary policy is allowed to respond to housing inflation, the interest rate will move up in response to a positive demand shock. As a consequence ... Low Interest Rates and the Distribution of Household DebtSecond, lower rates will increase the value of the accumulated wealth invested in e.g. bonds or housing. While the first channel benefits poorer or younger.
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