The 1985-94 Global Real Estate Cycle: Its Causes and Consequences
44 Pages Posted: 20 Apr 2016
Date Written: November 30, 1999
The rapid emergence of a global financial system in the late 1980s was signaled in the real estate sector of most OECD countries and some middle-income NIE countries by unusually strong booms followed by exceptionally sharp, protracted real estate bursts. Can we draw any lessons by probing the unappealing triology of "bad luck, bad policy, and bad banking that has affected the sector?"
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