Volatility Spillovers and Asymmetry in Real Estate Stock Returns
... • Sources: EPRA/NAREIT (real estate stocks) and Datastream (stocks) • Daily closing prices and market capitalizations covering the period 01/01/1990 – 12/31/2009 ...
... • Sources: EPRA/NAREIT (real estate stocks) and Datastream (stocks) • Daily closing prices and market capitalizations covering the period 01/01/1990 – 12/31/2009 ...
Bubbles in Real Estate? A Longer-Term Comparative Analysis of
... Could the peak attained by European and US house prices be justified by the existence of a secular trend? This is unlikely since housing is a reproducible asset – new houses can be produced at essentially constant marginal cost without any clear limit (see Shiller, 2005) – and its relative price sho ...
... Could the peak attained by European and US house prices be justified by the existence of a secular trend? This is unlikely since housing is a reproducible asset – new houses can be produced at essentially constant marginal cost without any clear limit (see Shiller, 2005) – and its relative price sho ...
Market Outlook Letter, March 2015 March 2, 2015 As the vernal
... eyes will be on Europe to track its success. The ECB plans to purchase €60 billion of public and private bonds, à la the Fed’s QE program in the U.S. The hope is that it will inflate asset prices, stimulate economic growth, and ward off deflation. It is needed and probably should have been done year ...
... eyes will be on Europe to track its success. The ECB plans to purchase €60 billion of public and private bonds, à la the Fed’s QE program in the U.S. The hope is that it will inflate asset prices, stimulate economic growth, and ward off deflation. It is needed and probably should have been done year ...
Bear-Proofing Your Portfolio
... Everything else has been less predictable. Small-company funds held up well during one bear market, then suffered during the next ones. Junk-bond funds have wandered all over the map, posting gains in the early bear markets but collapsing in 1990 as the economy weakened. Gold has also been on a pend ...
... Everything else has been less predictable. Small-company funds held up well during one bear market, then suffered during the next ones. Junk-bond funds have wandered all over the map, posting gains in the early bear markets but collapsing in 1990 as the economy weakened. Gold has also been on a pend ...
THE CRISIS AND MONETARY POLICY: WHAT WE LEARNED
... Consider an ANZAC dollar. The NZ dollar has fallen by over 10 percent against the AU dollar since 2006, a period in which Australia experienced an unprecedented minerals boom and very strong growth. If our currency had been pegged to the AU dollar, New Zealand’s exchange rate to the rest of the worl ...
... Consider an ANZAC dollar. The NZ dollar has fallen by over 10 percent against the AU dollar since 2006, a period in which Australia experienced an unprecedented minerals boom and very strong growth. If our currency had been pegged to the AU dollar, New Zealand’s exchange rate to the rest of the worl ...
Financialization in the Extreme - Political Economy Research Institute
... 1990s boom), by 1999 some surveys found households expecting median returns in the range of 15–19 percent for the next ten years.11 Of those households with five years or less of experience, a return of 21.7 percent was expected, not far from the 22.7 percent equity mutual fund return earned between ...
... 1990s boom), by 1999 some surveys found households expecting median returns in the range of 15–19 percent for the next ten years.11 Of those households with five years or less of experience, a return of 21.7 percent was expected, not far from the 22.7 percent equity mutual fund return earned between ...
Rebalancing the housing and mortgage markets – critical issues
... wake of the international crisis in financial markets. New national and international regulatory frameworks for the mortgage markets are now in place, but considerable uncertainties remain about the future scale and structure of those markets, and just how far they will differ from the market and re ...
... wake of the international crisis in financial markets. New national and international regulatory frameworks for the mortgage markets are now in place, but considerable uncertainties remain about the future scale and structure of those markets, and just how far they will differ from the market and re ...
Measures in Ireland
... There has been a strong rebound in the rental market in recent years; rental price increases and reductions in supply levels have been a feature of the market since 2011. ...
... There has been a strong rebound in the rental market in recent years; rental price increases and reductions in supply levels have been a feature of the market since 2011. ...
A Letter from the CEO - F.L.Putnam Investment Management Company
... U.S. economy is showing signs of improvement, the job market continues to grow stronger, and economic growth rates appear to be accelerating – not only in the United States, but around the world as well. If these trends continue, we expect higher corporate profitability and potentially higher stock ...
... U.S. economy is showing signs of improvement, the job market continues to grow stronger, and economic growth rates appear to be accelerating – not only in the United States, but around the world as well. If these trends continue, we expect higher corporate profitability and potentially higher stock ...
Global Equities. BIFURCATED MARKET ENVIRONMENT LIKELY
... consumer and commodity-consuming sectors, 2015 offered, if not the best of times, at least a relatively supportive economic environment. For industrial and commodityproducing sectors, however, it was a year of slumping demand and declining profits. In our view, these stories are unlikely to change d ...
... consumer and commodity-consuming sectors, 2015 offered, if not the best of times, at least a relatively supportive economic environment. For industrial and commodityproducing sectors, however, it was a year of slumping demand and declining profits. In our view, these stories are unlikely to change d ...
Chairman`s Address
... Europe and the US have a long history of grandfathering arrangements that investors have relied upon when they made their investment. The reason for this is simply that if you want to encourage investment in long life assets you need to do this or investors will need higher returns before they can i ...
... Europe and the US have a long history of grandfathering arrangements that investors have relied upon when they made their investment. The reason for this is simply that if you want to encourage investment in long life assets you need to do this or investors will need higher returns before they can i ...
what the future holds for property - Society of Chartered Surveyors
... they under use but with very few alternatives for them in terms of retirement further growth predicted; while retail sector was at an ‘optimistic’ stage of the accommodation. ” Cantwell said more of the population cycle. “There is potentially a lot of office stock were making the choice to be long-t ...
... they under use but with very few alternatives for them in terms of retirement further growth predicted; while retail sector was at an ‘optimistic’ stage of the accommodation. ” Cantwell said more of the population cycle. “There is potentially a lot of office stock were making the choice to be long-t ...
United States housing bubble
The United States housing bubble was an economic bubble affecting many parts of the United States housing market in over half of American states. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2012. On December 30, 2008, the Case-Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is—according to general consensus—the primary cause of the 2007–2009 recession in the United States.Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, the U.S. Secretary of the Treasury called the bursting housing bubble ""the most significant risk to our economy.""Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Wall Street hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. Concerns about the impact of the collapsing housing and credit markets on the larger U.S. economy caused President George W. Bush and the Chairman of the Federal Reserve Ben Bernanke to announce a limited bailout of the U.S. housing market for homeowners who were unable to pay their mortgage debts.In 2008 alone, the United States government allocated over $900 billion to special loans and rescues related to the U.S. housing bubble, with over half going to Fannie Mae and Freddie Mac (both of which are government-sponsored enterprises) as well as the Federal Housing Administration. On December 24, 2009, the Treasury Department made an unprecedented announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years despite acknowledging losses in excess of $400 billion so far. The Treasury has been criticized for encroaching on spending powers that are enumerated for Congress alone by the United States Constitution, and for violating limits imposed by the Housing and Economic Recovery Act of 2008.