Theoretical and Applied Economics
No. 1 / 2014 (590)
Analysis of the correlation between the real estate loan stock and the average unit value of urban housing
Technical University of Civil Engineering of Bucharest
Alexandru OPROIU
Bucharest University of Economic Studies
Abstract. Both the real estate market and the mortgage sector have had similar evolutions since 1990, with a significant influence on one another. In the first few years of this interval, the term „housing loans” was mostly associated with the state-run financing schemes for the purchase of such assets (the famous CARs), but after 2001 commercial banks entered this market segment. The products they initially offered were poorly adapted to demand, involving short maturities, high interest rates and impossible collateral, but soon the trend shifted and lending pushed up the construction of new buildings and that created an entire bull market. At the same time, personal loans helped fuel the population’s consumption for a significant time, but eventually ended up by being avoided due to the economic incertitude after 2008.
Contents
Stochastic evolutionary cartel formation
Earnings analysis at industry level
Analysis of the correlation between the real estate loan stock and the average unit value of urban housing
Debt and economic growth: Is there any causal effect? An empirical analysis with structural breaks and Granger causality for Greece
Behavioral finance: biased individual investment decision making; like the company but dislike the investment
The role of community foundations in local development – Slovak experience
The role of small and medium enterprises in improving employment and in the post-crisis resumption of economic growth in Romania
The issue of competing currencies. Case study – Bitcoin
Test of the bank lending channel: The case of Hungary
The dimensions of the global financial crisis
Budgeting mechanisms in public administration – meeting today’s and tomorrow’s development challenges