1 / 40

How to achieve the goal of affordable housing Vienna vs. New Orleans 9th Marshall Plan Lecture March 3rd, 2009.

Outline:. socioeconomic approach towards housing affordabilityRemarks on international housing marketsHow to define housing affordability? Measurement of affordabilityGoals derived and prerequisites of sub-marketsDifferences on national levelRole of the StateComparison: Vienna and New Orleans

pules
Download Presentation

How to achieve the goal of affordable housing Vienna vs. New Orleans 9th Marshall Plan Lecture March 3rd, 2009.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    1. How to achieve the goal of affordable housing? Vienna vs. New Orleans 9th Marshall Plan Lecture March 3rd, 2009. Dr. Elisabeth Springler, espringl@uno.edu

    2. Outline: socioeconomic approach towards housing affordability Remarks on international housing markets How to define housing affordability? Measurement of affordability Goals derived and prerequisites of sub-markets Differences on national level Role of the State Comparison: Vienna and New Orleans Summary 2

    3. Characteristics of the housing market International developments of the last years Data not always comparable general trends observable 1. Remarks on international housing markets

    4. 1. Remarks on international housing markets 4 Characteristics of the residential housing market Special market: Supply: long term investment; construction period time lag and surplus or shortage in housing Demand: inelastic housing is a necessary good Strong interrelations with other markets: e.g. construction sector and labor market, investment and capital accumulation, financial sector => reflects and determines business cycle Economic modeling beyond neoclassical assumptions necessary

    5. 1. Remarks on international housing markets 5 International developments of the last years: Increasing house prices Increasing mortgage debt ratio: household mortgage debt in % of GDP

    6. Developments in Europe ambiguous; fear of housing bubble in some economies; raising house prices and affordability? Figure 1: House Price Developments: %-Changes, 5 year average Source: European Mortgage Federation

More Related