Housing and consumption in Spain

Please use this identifier to cite or link to this item: http://hdl.handle.net/10045/27999
Información del item - Informació de l'item - Item information
Title: Housing and consumption in Spain
Authors: Taltavull de La Paz, Paloma
Research Group/s: Territorio y Movilidad. Mercados de Trabajo y Vivienda
Center, Department or Service: Universidad de Alicante. Departamento de Análisis Económico Aplicado
Keywords: Housing market | Housing absorption | Consumption | Economic variables
Knowledge Area: Economía Aplicada
Issue Date: Jun-2001
Abstract: The impact of macroeconomics variables on housing market is largely analysed in the literature. The usual way where changes on economic variables are transmitted to housing market is through demand factors, affecting to, for instance, the level of household waged-income or to house building investor’s expectations. Macroeconomics shocks on housing markets have not similar effects to those affecting other goods and they are different depending on geographic situation and market characteristics. The aim of this paper is to contrast if a relationship between changes on general economic conditions, showed as changes on prices or interest rates, and housing behaviour exists and how it works addressing housing absorption. It is say, how they impact on demand-side housing factors to clean the market. To do so, we extract cycle on housing absorption and compare it to business cycle using time series techniques to demonstrate their relationship. We concentrate this analyse in Spanish market during a period from 1975 to 2000. Results give evidence about how housing absorption use to be concentrated in some short periods generating boom and recession cycles on housing that are, in some of them, independent from business one. Expectations on inflations appears to be one of the main reasons to take housing consumption decisions, causing this characteristic phenomenon.
Description: Paper presented to the 8th European Real Estate Society Conference, Alicante, June 26-29, 2001.
URI: http://hdl.handle.net/10045/27999
Language: eng
Type: info:eu-repo/semantics/conferenceObject
Peer Review: si
Appears in Collections:INV - TEYMO - Comunicaciones a Congresos / Conference Papers
INV - ECOVISI - Comunicaciones a Congresos, Conferencias, etc.

Files in This Item:
Files in This Item:
File Description SizeFormat 
Thumbnail2001_ERES.pdf186,93 kBAdobe PDFOpen Preview

Items in RUA are protected by copyright, with all rights reserved, unless otherwise indicated.