House prices: bust or boom
- on average world house prices have continued to grow for 16 consecutive quarters
- but distinct patterns can be seen in different areas, the IMF identifies three very different clusters they label “gloom, bust and boom”
- idiosyncratic factors affect housing prices, for example in Turkey the influx of Syrian refugees means housing prices in cities near the border have risen faster than in the rest of the country
Your taskExplore the IMF website, and then focus your attention on the House Prices Around the World graph.Review your region and explain whether you believe real house prices moved the way the IMF reported in your country in 2017. In your response include at least on reason as to why some housing markets increased, while others decreased.
What Influences Property Values?
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