1. The Housing Sector, Interest Rates and Unemployment Examined
... appreciation of home prices has attracted the attention of non-owner households, bringing more of them into the market. Obviously, the fundamentals of supply and demand, with price as the equilibrating force, are well at work in the housing market. Measuring housing affordability by the ratio of mortgage payments to income, home sales naturally increase as the cost of buying a home becomes "cheaper ... a result of joining the euro; for example, Spain with growth of 18% and Ireland 8%. However, house prices have not been strong everywhere. In Germany, Japan and Hong Kong, prices have been...
- Word Count: 1565
- Approx Pages: 6
- Has Bibliography
- Grade Level: Undergraduate