Ireland's Housing Boom: What has Driven it and Have Prices Overshot?
The Irish housing market is very buoyant. The housing boom is driven by strong economic growth, dynamic demographics and low interest rates. However, large tax advantages and relatively lenient credit policies by banks have also played their part, and prices may have become overvalued. To the extent...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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OECD Publishing
2006
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Online-Zugang: | kostenfrei |
| Zusammenfassung: | The Irish housing market is very buoyant. The housing boom is driven by strong economic growth, dynamic demographics and low interest rates. However, large tax advantages and relatively lenient credit policies by banks have also played their part, and prices may have become overvalued. To the extent that high house prices reflect favourable tax treatment, they may lead to economic inefficiencies by drawing excessive resources into residential construction. While a soft landing appears the most likely prospect, a disorderly correction of house prices would pose risks for macroeconomic and possibly financial stability. In this context, one policy lever available to the government would be a phased removal of the tax advantages associated with housing. In addition, banks should remain cautious in their lending and provisioning policies |
| Beschreibung: | 1 Online-Ressource (26 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/752770732812 |
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| spelling | Rae, David Verfasser aut Ireland's Housing Boom What has Driven it and Have Prices Overshot? David Rae and Paul van den Noord = L'envolée du marché irlandais du logement / David Rae et Paul van den Noord L'envolée du marché irlandais du logement Paris OECD Publishing 2006 1 Online-Ressource (26 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers The Irish housing market is very buoyant. The housing boom is driven by strong economic growth, dynamic demographics and low interest rates. However, large tax advantages and relatively lenient credit policies by banks have also played their part, and prices may have become overvalued. To the extent that high house prices reflect favourable tax treatment, they may lead to economic inefficiencies by drawing excessive resources into residential construction. While a soft landing appears the most likely prospect, a disorderly correction of house prices would pose risks for macroeconomic and possibly financial stability. In this context, one policy lever available to the government would be a phased removal of the tax advantages associated with housing. In addition, banks should remain cautious in their lending and provisioning policies Economics Ireland van den Noord, Paul ctb https://doi.org/10.1787/752770732812 Verlag kostenfrei Volltext |
| spellingShingle | Rae, David Ireland's Housing Boom What has Driven it and Have Prices Overshot? Economics Ireland |
| title | Ireland's Housing Boom What has Driven it and Have Prices Overshot? |
| title_alt | L'envolée du marché irlandais du logement |
| title_auth | Ireland's Housing Boom What has Driven it and Have Prices Overshot? |
| title_exact_search | Ireland's Housing Boom What has Driven it and Have Prices Overshot? |
| title_exact_search_txtP | Ireland's Housing Boom What has Driven it and Have Prices Overshot? |
| title_full | Ireland's Housing Boom What has Driven it and Have Prices Overshot? David Rae and Paul van den Noord = L'envolée du marché irlandais du logement / David Rae et Paul van den Noord |
| title_fullStr | Ireland's Housing Boom What has Driven it and Have Prices Overshot? David Rae and Paul van den Noord = L'envolée du marché irlandais du logement / David Rae et Paul van den Noord |
| title_full_unstemmed | Ireland's Housing Boom What has Driven it and Have Prices Overshot? David Rae and Paul van den Noord = L'envolée du marché irlandais du logement / David Rae et Paul van den Noord |
| title_short | Ireland's Housing Boom |
| title_sort | ireland s housing boom what has driven it and have prices overshot |
| title_sub | What has Driven it and Have Prices Overshot? |
| topic | Economics Ireland |
| topic_facet | Economics Ireland |
| url | https://doi.org/10.1787/752770732812 |
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