Questions of assessing the overvaluation of housing prices

Mikuláš Cár, National Bank of Slovakia, Slovak Republic

Pages: 5 – 19

Abstract

Blowing and bursting stock market bubbles in the middle of the last decade caused considerable turbulence on financial markets, which lead to the global financial and economic crisis. The relevant national and international institutions are taking steps towards prevention of imbalances on financial markets and economies of individual countries. There is a rising need for more intensive use of all analytical tools to identify more significant deviation of housing prices from underlying economic fundamentals. An important precondition for the fulfillment of these objectives is the availability and a sufficient quality of the necessary data.

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