International macroeconomic aspect of housing
Author(s)
Date Issued
2022
Publisher
Edward Elgar Publishing
ISBN
9781789908480
9781789908497
Citation
In Leung, C. (Ed.). (2022). Handbook of real estate and macroeconomics (pp. 284-311). Edward Elgar Publishing.
Type
Book Chapter
Abstract
This paper studies whether the relationships between housing prices and macroeconomic variables have changed after the 2008 Global Financial Criss (GFC). I re-examine the business cycle correlations in 22 OECD member countries. In general, macro variables exhibited a strong association with housing prices. While some correlations are weakened or strengthened, some are even reversed after the GFC.
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