business / news / / Phys.org
Researchers analyzed housing markets in 23 OECD countries from 1990 to 2019.
House price cycles in OECD countries are nearly twice as volatile as long-term trends suggest.
KEY POINTS
- Low capital gains taxes and landlord-friendly rental regimes significantly increase housing market volatility.
- Mortgage credit availability is not the main driver of housing booms and busts, contrary to common belief.
- Countries with stronger tenant protections and more social housing experience more stable house prices.
COMPANIES
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