International Housing Markets Policy And Practice

The housing market refers to the property market where properties are bought and sold to buyers either directly or through real estate agents. It is a series of interconnected and location-specific submarkets, which exist on three different levels, namely, international, regional and urban. All countries have their unique set of housing problems and each country has its own different set of policies, practices, and institutions to deal with those issues. Demographic factors are the primary determinants of demand in the housing markets. Although, other elements like consumer preferences, income and credit availability are also crucial. Some of the most valuable real estate markets in the world include China, USA, Japan, UK, India, Germany, France, Brazil, Italy, and Russia. During the last decade, the world has witnessed a trend of global housing shortage along with increased demand due to Covid-19 pandemic. However, certain policies that can be adopted by countries in order to deal with the global housing shortages include upzoning, relaxing immigration laws, providing financial incentives, and providing mortgages to homebuyers. This book provides comprehensive insights on the policies and practices related to international housing markets. Those in search of information to further their knowledge will be greatly assisted by it.

This book re-examines the role of urban policy and planning in relation to the housing market in an era of global uncertainty and change. The relationship between planning and the housing market is a contested problem across research, policy, and practice. Problems with housing supply and affordability in many nations have been linked to planning system constraints, while the global financial crisis has raised new questions about the role of urban planning regulation and processes in responding to housing market trends. With reference to international cases from the United Kingdom, the United States, Ireland, Hong Kong and Australia, the book examines how different systems of urban planning and governance address complex and dynamic housing market trends. It also offers practical guidance on how urban planning can support an efficient supply of appropriate and affordable homes in preferred locations. A detailed study, which explains and decodes the workings of the planning system and housing market, this book will be of particular interest to scholars of human geography and urban planning, as well as housing policy makers and practitioners. To view Nicole Gurran’s related TEDx talk please visit: Housing Crisis? How about housing solutions. TEDx Sydney 2018 (http://bit.ly/2psfpMw)

A global look at the reasons behind the recent economic collapse, and the responses to it The speculative bubble in the housing market began to burst in the United States in 2007, and has been followed by ruptures in virtually every asset market in almost every country in the world. Each country proposed a range of policy initiatives to deal with its crisis. Policies that focused upon stabilizing the housing market formed the cornerstone of many of these proposals. This internationally focused book evaluates the genesis of the housing market bubble, the global viral contagion of the crisis, and the policy initiatives undertaken in some of the major economies of the world to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals with the housing sector in addition to the financial sector of individual economies. Countries in many parts of the world were players in either the financial bubble or the housing bubble, or both, but the degree of impact, outcome, and responses varied widely. This is an appropriate time to pull together the lessons from these various experiences. Reveals the housing crisis in the United States as the core of the meltdown Describes the evolution of housing markets and policies in the run-up to the crisis, their impacts, and the responses in European and Asian countries Compares experiences and linkages across countries and points to policy implications and research lessons drawn from these experiences Filled with the insights of well-known contributors with strong contacts in practice and academia, this timely guide discusses the history and evolution of the recent crisis as local to each contributor's part of the world, and examines its distinctive and common features with that of the U.S., the trajectory of its evolution, and the similarities and differences in policy response.

This book is a timely assessment of 20 years of progress in the field of housing economics and its application to policy and practice. Two decades on from the publication of Duncan Maclennan's influential Housing Economics, 16 leading housing experts - both academics and policy makers from across the world - now honour Maclennan's contributions. The chapters here present a contemporary survey of key issues in housing, from urban housing markets and sub-market modelling, to the economics of social housing, the basis for housing planning, economic analysis of neighbourhoods, and the connections between academic work and policy development. For students, researchers and practitioners in housing, urban economics and social policy, Housing Economics and Public Policy: . provides up to date and comprehensive reviews of major areas of the housing economics literature . sheds light on the economic, social and spatial processes that affect housing . includes discussion of major areas of cutting edge housing economics research and identifies continuing gaps . presents a synthesis of housing economics research on both sides of the Atlantic . assesses the impact of theory on policy and practice

Individual foreign investment in residential real estate by new middle-class and super-rich investors is re-emerging as a key issue in academic, policy and public debates around the world. At its most abstract, global real estate is increasingly thought of as a liquid asset class that is targeted by foreign individual investors who are seeking to diversify their investment portfolios. But foreign investors are also motivated by intergenerational familial security, transnational migration strategies and short-term educational plans, which are all closely entwined with global real estate investment. Government and local public responses to the latest manifestation of global real estate investment have taken different forms. These range from pro-foreign investment, primarily justified on geopolitical and macro-economic grounds, to anti-foreign investment for reasons such as mitigating public dissent and protecting the local housing market. Within this changing geopolitical context, this book offers a diverse range of case studies from Canada, Hong Kong, Singapore, Russia, Australia and Korea. It will be of interest to academics, policymakers and university students who are interested in the globalisation of local real estate. The chapters in this book were originally published in the International Journal of Housing Policy.

This important new source provides greater insight into and awareness of housing experiences in other societies, allowing for a more informed assessment of our own national experiences and priorities. This unique compilation points to the value of cross-national work when dealing with these complex issues. Choice Housing issues and policy problems are both universal in scope and, at the same time, inherently specific to a given time and place. All countries are wrestling with their own housing problems and with the everyday mechanics of housing supply and regulation. Specific problems vary immensely from country to country and the policy instruments and institutions chosen to address those problems vary. As the chapters in this volume make clear, definitions of housing problems and approaches to housing policies are firmly embedded in particular national and cultural contexts. A long-awaited signal publication, this book is an important new source of analyses and information necessary to understand these contexts. It also is a major work of reference that provides the raw materials for undertaking comparative studies of housing issues and policy problems. The contributors are renowned authorities in the field who demonstrate how housing is worldwide an integral component of a nation's financial system, its social structure, and its political and policy making apparatus. Because this book provides greater insight in and awareness of experiences in other societies, it allows for a more informed assessment of our own national experiences and priorities. As the contributors make clear, there are no complete or simple solutions to contemporary housing problems. This unique compilation points to the value of cross-national work when dealing with these complex issues. It will be essential reading for scholars and policymakers alike who are concerned with housing issues.

For many younger and lower-income people, housing affordability continues to worsen. Based on the academic research of two distinguished housing economists – and stimulated by working with governments across the world - this wide-ranging book sets out clear theoretical and empirical frameworks to tackle one of today’s most important socio-economic issues. Housing unaffordability arises from complex forces and a prerequisite to effective policy is understanding the causes of rising house prices and rents and the interactions between housing, housing finance and the macroeconomy. The authors challenge many of the conventional wisdoms in housing policy and offer innovative recommendations to improve affordability.

This book is an extended essay on the myriad relationships between housing policy and housing market performance. The main thesis is that significant differences in important housing outcomes are attributable, at least in part, to differences in the housing policy regimes of cities and countries.