The Impact of Interest Rates and The Housing Market on The UK Economy

The Chancellor has asked Professor David Miles to examine the UK market for longer-term fixed rate mortgages. This paper by Adrian Cooper, which is part of a study commissioned by the Miles Review, presents the results of a series of simulations using the OEF Model of the UK economy to investigate the contribution of the housing market to macroeconomic volatility and the implications of changing the structure of mortgage finance from the current variable rate system linked to short-term interest rates to a fixed rate system linked to long rates. The main findings are that the housing market has been a contributor to past volatility in the UK economy, and that moving to a fixed rate structure would reduce the impact of a change in interest rates on key macroeconomic indicators.     

The Housing Market

The housing market recovery has continued to gain momentum with activity accelerating and prices continuing to increase strongly on all measures in the latter part of 2013. This trend looks set to continue in the short‐term, with the latest survey data from RICS reporting strong growth in new buyer enquiries…     

The Housing Market

The housing market ended 2013 on a strong note, with momentum building in both prices and transactions. And market indicators point to further acceleration in activity and prices this year. As of March, annual growth in property prices was running at around 10% on the ONS, Nationwide and Halifax measures, with London prices were reported to have increased by 18% in the year to February…     

住房市场的供给结构及两类市场的调控

近几年房价节节攀升,如何制定行之有效的房地产市场调控政策成为政府面临的重要问题。本文跳出以往研究房地产市场的思路,在分别分析商品性住房和政策性住房两类市场的基础上,结合当下的调控措施提出相应的政策建议。     

住房市场的供给结构及两类市场的调控

近几年房价节节攀升,如何制定行之有效的房地产市场调控政策成为政府面临的重要问题。本文跳出以往研究房地产市场的思路,在分别分析商品性住房和政策性住房两类市场的基础上,结合当下的调控措施提出相应的政策建议。     

The Immoral Economy of Housing in Turkey

This paper presents an examination of the political, social and economic coordinates of informal housing in Turkey within an analytical framework in which the complex interaction between the organizing principles of reciprocity, redistribution and exchange is taken into account. The discussion is centered on two ideas: (1) both redistribution and reciprocity incorporate a moral principle which can be defined as ‘the unequal treatment of the unequal’ as opposed to the moral neutrality of market exchange which takes place between formally equal trading partners; and (2) in certain contexts where redistributive processes are not institutionalized in a rule-based, depersonalized manner but involve relations which take place within informal networks of reciprocity, the element of moral relativity that forms their basis might lead to situations where they lose their legitimacy and generate negative social consequences. The paper thus introduces a moral dimension into the discussion of informal sector activity by complementing Karl Polanyi's approach with Marshall Sahlins' typology of different types of reciprocity and shows that particular systems of redistribution might lead to the emergence of forms of negative reciprocity which shape both the market and the political process in a highly undesirable manner. Cet article présente un examen des coordonnées politiques, sociales et économiques du logement informel en Turquie, utilisant un modèle analytique dans lequel l'influence mutuelle entre les principes d'organisation, de réciprocité, de redistribution et d'échange, est prise en considération. La discussion porte sur deux idées: (1) la redistribution et la réciprocité comprennent toutes deux un principe moral qui peut être défini comme ‘le traitement inégal de l'inégal’, par opposition à la moralité neutre de l'échange de marché qui prend place entre des partenaires de commerce formellement égaux; et (2) dans certains contextes, lorsque les processus redistributifs ne sont pas institutionnalisés d'une façon formelle et impersonnelle mais incluent des relations qui prennent place dans des réseaux informels de reciprocité, l'élément de relativité morale qui forme leur base pourrait conduire à des situations où ils perdraient leur légitimité et auraient des conséquences sociales négatives. Cet article introduit donc une dimension morale à la discussion de l'activité du secteur informel en complémentant l'approche de Karl Polanyi avec la typologie des différents types de réciprocité de Marshall Sahlins, et montre que certains syst èmes de redistribution pourraient conduire à la naissance de formes de réciprocité négatives qui modèleraient de manière hautement indésirable et le processus du marché et le processus politique.     

Homelessness and the Housing Market

Can the problem of homelessness be solved by increasing the number of Shelters? Paul Ashton, of Liverpool University, argues that the homelessness need yet more liberalistion of the housing market.     

关于住宅房产市场分析的问题解析及对策

随着我国房地产经济增长方式开始从粗放型向集约型转化，面对着住宅市场的有效供给不足的问题，在投资决策时要加强对住宅房地产市场分析的有效性。现阶段住宅房地产开发中市场分析凸现的问题有缺乏系统全面的供需分析、忽视针对消费者需求分析、定性分析不足等。为适应住宅市场开发的深入细化，针对存在的问题，提出了住宅市场分析的主要方法和对策。所有的住宅开发项目的意义在于它是应需求而产生，并为满足这些需求。