by Konstantin Kholodilin, Jan Philip Weber und Steffen Sebastian Residential rental markets regulations have become an integral part of everyday life in Germany as in almost all other countries. The strong house price and rent increases over the past decade have fueled social debate on this issue. Tenant movements worldwide are demanding tighter regulations and advocating for affordable housing ...
Ten years after the worldwide financial and economic crisis was triggered by the American real estate market, real estate prices are rising around the globe. Concerns about a new housing bubble are growing. The present report based on OECD data for 20 countries demonstrates that this concern is not unwarranted. In eight countries, including the United Kingdom and the USA, the evolution of real estate ...
BAMS is a joint seminar by the DIW Berlin, the Hertie School of Governance, the HU Berlin and the WZB.
Construction industry continues very positive development – more room for modernization and renovation of existing buildings – construction prices rise sharply The construction sector cycle will continue its upward course in the next two years according to the forecast of the German Institute for Economic Research (DIW Berlin), which makes its annual prognosis of construction volume on ...
The project investigates the effectiveness of the rent control for new rental contracts introduced in 2015. The effects of regulation on price formation in the regulated and unregulated housing market will be analyzed. In addition, the effects of the rent control on supply will be examined and the extent to which the law may have prevented investment will be studied.
In the light of the unconventional monetary policies implemented by most large central banks around the world, there is an intense debate about the potential impact on the prices of capital assets. Particularly in Germany, skepticism about the sustainability of the current policy by the European Central Bank is wide spread and concerns about the emergence of a speculative price bubble in the housing ...
In this paper, we show that, in terms of real disposable income, changes in housing expenditures dramatically exacerbate the trend of income inequality that has risen sharply in Germany since the mid-1990s. More specifically, whereas the 50/10 ratio of net household income increasesby 22 percentage points (pp) between 1993 and 2013, it increases by 62 pp for income net of housing expenditures. At the ...
We present empirical evidence on the heterogeneity in monetary policy transmission across countries with different home ownership rates. We use household-level data together with shocks to the policy rate identified from high-frequency data. We find that housing tenure reacts more strongly to unexpected changes in the policy rate in Germany and Switzerland –the OECD countries with the lowest home ownership ...