1. The Housing Sector, Interest Rates and Unemployment Examined
... 2003. Over the past five years, real house prices have increased at average annual rates of 8%-12% in Australia, UK, Ireland, the Netherlands and Spain. In these six economies, the ratio of house prices to average earnings is at record levels and much higher than the average level over the period 1975 to 2002. The Economist concludes that house prices continued to climb ... countries that have experienced a sharp fall in interest rates as 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,...
- Word Count: 1565
- Approx Pages: 6
- Has Bibliography
- Grade Level: Undergraduate