Latin America; Vulnerabilities Under Construction?
| Autor: | Evridiki Tsounta, Camilo E Tovar Mora, Luis Cubeddu |
|---|---|
| Rok vydání: | 2012 |
| Předmět: |
Western hemisphere
Latin Americans media_common.quotation_subject Financial system Real estate Banking sector Interest rate House price General (includes Measurement and Data) Financial Institutions and Services: General Real Estate Services [Emerging markets Credit Credit expansion Latin America Housing prices Household credit Real estate prices Mortgage real estate data gaps mortgage credit housing finance Financial Markets and the Macroeconomy General Financial Markets] General Earth and Planetary Sciences Business Emerging markets Data limitations General Environmental Science media_common |
| Popis: | This paper documents developments in mortgage credit and the housing sector in Latin America over the past decade, and compares them with those of other emerging economies. In particular, it examines the real estate and mortgage markets to assess whether (i) growth in mortgage credit is excessive compared to long-term trends; (ii) trends in house prices reflect changes in economic fundamentals; and (iii) the extent to which household and banking sector vulnerabilities could lead to potential fragilities. Although data limitations hamper a rigorous analysis of trends, our analysis suggests that while there are no imminent misalignments in the real estate and mortgage sectors, they could emerge if current trends persist. Strengthening supervision and addressing data gaps is thus critical to ensure adequate monitoring of risks and vulnerabilities in these sectors. |
| Databáze: | OpenAIRE |
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