Real Estate Market Developments and Financial Sector Soundness

34 Pages Posted: 2 Feb 2006

See all articles by Paul Hilbers

Paul Hilbers

International Monetary Fund (IMF)

Qin Lei

University of Michigan at Ann Arbor

Lisbeth Stausholm Zacho

International Monetary Fund (IMF)

Date Written: September 2001

Abstract

This paper analyses the characteristics and functioning of real estate markets. It focuses on the relationship between developments in these markets and the financial sector to determine under what circumstances real estate booms and busts can develop and how they can affect the health and stability of the financial system. It concludes that unbalanced real estate price developments often contribute to financial sector distress and that trends in real estate markets should be monitored closely in the context of financial sector assessments.

Keywords: Real estate, financial sector, financial crises

JEL Classification: G12, G21

Suggested Citation

Hilbers, Paul and Lei, Qin and Stausholm Zacho, Lisbeth, Real Estate Market Developments and Financial Sector Soundness (September 2001). IMF Working Paper, Vol. , pp. 1-34, 2001. Available at SSRN: https://ssrn.com/abstract=879898

Paul Hilbers (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Qin Lei

University of Michigan at Ann Arbor ( email )

Ross School of Business
701 Tappan Street
Ann Arbor, MI 48109-1234
United States

HOME PAGE: http://leiq.bus.umich.edu

Lisbeth Stausholm Zacho

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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