Housing market risks in the United Kingdom
By: Robert F. Martin.
Series: International finance discussion papers -- no. 954; International finance discussion papers (Online) -- no. 954.
Publisher: Federal Reserve Board
Published: 2008
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Description: "House prices in the United Kingdom rose rapidly in recent years.  The run-up, larger than any other in U.K.  history, leveled off early last year.  House prices are currently declining at rates faster than those seen in the early 1990's downturn.  The housing downturn, however, is far from complete.  Using the price-rent ratio as a guide, house prices are likely to fall at least a further 30 percent before leveling off.  Given the historic links between housing and real activity, the downturn is likely to be associated with very slow growth.  Going forward, we recommend the price-rent ratio as the appropriate measure of housing valuation"--Federal Reserve Board web site.
Notes: Title from PDF file as viewed on 6/22/2009.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.