Housing investment: Long run international trends and volatility

Michael Ball*, Andrew Wood

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

Using long-run data for today's advanced economies, the pattern of housing investment is examined from the 19th century to the present day. Housing investment is shown to be subject to long cycles, the most pronounced of which were in the post-1945 era. Since 1970 the trend of housing investment has been flat for most countries considered, and falling as shares of national income. Fluctuations in housing investment demand may have helped to stabilise the world economy during the 1950s and 1960s but since then have switched to become a destabilising factor.

Original languageEnglish
Pages (from-to)185-209
Number of pages25
JournalHousing Studies
Volume14
Issue number2
DOIs
Publication statusPublished - 1999

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