House prices, wealth effects, and the Singapore macroeconomy

Edelstein, Robert H.; Lum, Sau Kim

doi:10.1016/j.jhe.2004.09.006

Cited by 54 publications

(37 citation statements)

References 12 publications

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“…Buchanan and Fiotakis (2004), Edelstein and Lum (2004), Case, Quigley, and Shiller (2005) and Carroll, Otsuka, and Slacalek (2006) …”

Section: Introductionmentioning

confidence: 99%

Housing Wealth Isn't Wealth

Buiter¹

2008

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“…Buchanan and Fiotakis (2004), Edelstein and Lum (2004), Case, Quigley, and Shiller (2005) and Carroll, Otsuka, and Slacalek (2006) …”

Section: Introductionmentioning

confidence: 99%

Housing Wealth Isn't Wealth

Buiter¹

2008

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“…If the risky interest rate is high enough, prospective homeowners forgo a risky mortgage in lieu of a risk-free one (with a conservative debt ratio and low cost of financing). This has credence in the real world, as Singapore (which has the highest homeownership rate − of 84% in the world) does not allow excessive risk taking via mortgages on public housing units (see Edelstein and Lum, 2004).…”

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confidence: 99%

Can an Islamic model of housing finance cooperative elevate the economic status of the underprivileged?

Ebrahim

2009

Journal of Economic Behavior & Organization

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“…Matteo (2004) and Campbell and Cocco (2007) pointed out that the increase of house price simultaneously increases the value of wealth of home owners. The increase of housing wealth can promote household consumption, which also contributes to economic growth (Edelstein and Lum 2004). However, Peng et al (2008) pointed out that there was a lack of wealth effect on consumption in China, mainly owing to the limited means to withdraw housing equity to finance current consumption.…”

Section: Effect On Economic Developmentmentioning

confidence: 99%

The Impacts of Housing Affordability on Social and Economic Sustainability in Beijing

Wang

Hoon

Lim

2013

AJCEB-Conerence Series

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China has undergone significant housing price growth since its 1998's policy reformation -triggering housing affordability issues in large cities such as Beijing and Shanghai. Although studies have been done to investigate Chinese cities' housing market policies, it appears that hitherto little is known about the effect of housing affordability on the cities' social and economic sustainability. The aim of this paper is to investigate the relationships among housing affordability, macro-economic performance and socio-demographic trends in Beijing. Under this aim, the specific objectives are to: examine Beijing's housing market performance, housing affordability, economic development and socio-demographic trends; and model the relationships among housing affordability, economic performance and socio-demographic trends in Beijing. Twelve years of retrospective census data from National Bureau of Statistics of China were collated and analysed. The results show that economic growth is positively influenced by housing affordability. However, it is shown that low level of housing affordability could lead to economic and social un-sustainability. This research informs urban planners and researchers about the effect of housing affordability on a nation's urban economic and social development, offering a new plausible insight towards developing a sustainable housing market.

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House prices, wealth effects, and the Singapore macroeconomy

Cited by 54 publications

References 12 publications

Housing Wealth Isn't Wealth

Housing Wealth Isn't Wealth

Can an Islamic model of housing finance cooperative elevate the economic status of the underprivileged?

The Impacts of Housing Affordability on Social and Economic Sustainability in Beijing

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