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Informationen zum Autor ASHOK BARDHAN is Senior Research Associate, Fisher Center for Real Estate and Urban Economics, Haas School of Business, University of California, Berkeley. ROBERT H. EDELSTEIN is Professor, Maurice Mann Chair in Real Estate, Haas School of Business, University of California, Berkeley. CYNTHIA A. KROLL is Executive Director, Staff Research and Senior Regional Economist, Fisher Center for Real Estate and Urban Economics, Haas School of Business, University of California, Berkeley. Klappentext A global look at the reasons behind the recent economic collapse, and the responses to itThe speculative bubble in the housing market began to burst in the United States in 2007, and has been followed by ruptures in virtually every asset market in almost every country in the world. Each country proposed a range of policy initiatives to deal with its crisis. Policies that focused upon stabilizing the housing market formed the cornerstone of many of these proposals. This internationally focused book evaluates the genesis of the housing market bubble, the global viral contagion of the crisis, and the policy initiatives undertaken in some of the major economies of the world to counteract its disastrous affects.Unlike other books on the global crisis, this guide deals with the housing sector in addition to the financial sector of individual economies. Countries in many parts of the world were players in either the financial bubble or the housing bubble, or both, but the degree of impact, outcome, and responses varied widely. This is an appropriate time to pull together the lessons from these various experiences.* Reveals the housing crisis in the United States as the core of the meltdown* Describes the evolution of housing markets and policies in the run-up to the crisis, their impacts, and the responses in European and Asian countries* Compares experiences and linkages across countries and points to policy implications and research lessons drawn from these experiencesFilled with the insights of well-known contributors with strong contacts in practice and academia, this timely guide discusses the history and evolution of the recent crisis as local to each contributor's part of the world, and examines its distinctive and common features with that of the U.S., the trajectory of its evolution, and the similarities and differences in policy response. Zusammenfassung A global look at the reasons behind the recent economic collapse, and the responses to it The speculative bubble in the housing market began to burst in the United States in 2007, and has been followed by ruptures in virtually every asset market in almost every country in the world. Inhaltsverzeichnis Acknowledgments ix Editor's Note xi 1 The Financial Crisis and HousingMarkets Worldwide: Similarities, Differences, and Comparisons 1 Ashok Bardhan, Robert H. Edelstein, and Cynthia A. Kroll PART I The United States Leads the Housing Bubble's Rise and Collapse 2 The U.S. HousingMarket and the Financial Crisis 23 Ashok Bardhan, Robert H. Edelstein, and Cynthia A. Kroll PART II The European Union-One Continent, Many Markets: A Gauge of Government Institutions and Interventions 3 The 2008 Financial Crisis and the Danish Mortgage Market 53 Jacob Gyntelberg, Kristian Kjeldsen, Morten Baekmand Nielsen, and Mattias Persson 4 Prolonged Crisis 69 Thies Lindenthal and Piet Eichholtz 5 The Dynamics of the Irish HousingMarket 101 Simon Stevenson 6 House Prices and Market Institutions: The Dutch Experience 135 Dirk Brounen and Piet Eichholtz 7 Real Estate Boom and Crisis in Spain 157 Antoni Sureda-Gomila 8 The UK and Europe's Selective Housing Bubble 173 Christin...
