OECD: Well Functioning Housing Markets Are Key for Stability and Growth

Poorly managed housing markets played a key role in triggering the recent global financial crisis and may be slowing the recovery, according to a new OECD study which offers governments a roadmap for sounder housing policies.

The OECD notes in its study that easy credit over the past two decades amplified price volatility, with real housing prices jumping 90% or more in Australia, Belgium, Finland, Ireland, Netherlands, New Zealand, Norway, Spain and the United Kingdom. OECD also points out that deregulation and innovation in  mortgage markets – coupled with inadequate supervisory frameworks –  contributed to a significant relaxation in lending standards, an increase in non-performing loans and the sub-prime crisis.

Click for full “Housing and the Economy: Policies for Renovation” Study

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