Efectos del crédito hipotecario sobre el precio de la vivienda nueva NO VIS en Medellin (Effects of the mortgage loan on the price of new housing NO VIS in Medellin)

19 Pages Posted: 11 Dec 2018

See all articles by John Garcia

John Garcia

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF)

Natalia Cadavid

Universidad EAFIT

Erika Tatiana Aristizábal Zuluaga

Universidad EAFIT

Date Written: November 1, 2018

Abstract

Spanish Abstract:
Explorar los factores crediticios en materia de vivienda nueva NO VIS, permite diversas miradas a las dinámicas sociales que faciliten acceder o no a ella. En este sentido, determinar los efectos del crédito hipotecario sobre el precio de la vivienda nueva no VIS en la ciudad de Medellín para el período comprendido entre 2009 – 2017, más allá de permitirnos evidenciar que estas variables están inversamente relacionadas, nos permite identificar otros factores económicos relevantes para dicho estudio. La metodología usada en esta investigación es un modelo de oferta y demanda, para establecer la relación entre la tasa hipotecaria y el precio del metro cuadrado para la vivienda nueva NO VIS. Utilizando un modelo auto regresivo de medias móviles (ARIMA) y Mínimos Cuadrados en Tres Etapas (MC3E) se evidencia que la variable con mayor impacto sobre el precio de la vivienda es la Tasa hipotecaria, a una mayor tasa de interés las cantidades demandadas y ofertadas son menores.


English Abstract:
Exploring the credit factors in new housing NO VIS, allows different views of social dynamics that facilitate access or not to it. In this sense, determine the effects of the mortgage loan on the price of new non-VIS housing in the city of Medellin for the period between 2009, and the first half of 2017; beyond allowing us to show that these variables are inversely related, it allows us to identify other economic factors relevant to this study. The methodology used for this research was based on the supply and demand functions, in order to establish the relationship between the mortgage rate and the price per square meter for new housing NO VIS. Using an autoregressive moving average model and three-stage least squares model, it is evident that the variable with the greatest impact on housing prices is the Mortgage Rate, presenting a negative relationship for both the supply and demand functions.

Keywords: Mortgage rate, mortgage credit, new housing price, NO VIS housing

JEL Classification: D43, L16, L74

Suggested Citation

Garcia, John and Cadavid, Natalia and Aristizábal Zuluaga, Erika Tatiana, Efectos del crédito hipotecario sobre el precio de la vivienda nueva NO VIS en Medellin (Effects of the mortgage loan on the price of new housing NO VIS in Medellin) (November 1, 2018). Center for Research in Economics and Finance (CIEF), Working Papers, No. 18-21, Available at SSRN: https://ssrn.com/abstract=3297098 or http://dx.doi.org/10.2139/ssrn.3297098

John Garcia (Contact Author)

Universidad EAFIT - School of Economics and Finance - Center for Research in Economic & Finance (CIEF) ( email )

Carrera 49 No. 7 South - 50
Bogotá
Colombia

Natalia Cadavid

Universidad EAFIT

Carrera 49 N° 7 sur – 50
Bogotá, Antioquia 00000
Colombia

Erika Tatiana Aristizábal Zuluaga

Universidad EAFIT

Carrera 49 N° 7 sur – 50
Bogotá, Antioquia 00000
Colombia

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