The Housing Cycle in Emerging Middle Eastern Economies and its Macroeconomic Policy Implications
IMF Working Papers, December 1, 2009
Source details
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- The Housing Cycle in Emerging Middle Eastern Economies and its Macroeconomic Policy Implications
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Bibliographic details
- Authors: Samya Beidas-Strom, Weicheng Lian, Ashwaq Maseeh
- Published: December 1, 2009
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451874334.001
Key findings
- Mortgage markets have experienced rapid development, which has led to lower private per capita consumer spending volatility this decade.
- A downward price correction occurred in the housing market after 2007, which appears to have bottomed out.
- The rental market appears to be largely determined by region-specific economic fundamentals-a youthful working-age population and wealth variables.
- A segregation between self-owned house and rental price dynamics exists in this region, rendering the former more sensitive to the business cycle.
Thematic focus
- Business cycles
- Consumption
- Housing
- Housing prices
- Mortgages
Keywords
- determination mechanism
- house price
- housing price volatility
- price dynamics
- rental price
- WP