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180616 ||| eng |
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|a Rae, David
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|a Ireland's Housing Boom
|h Elektronische Ressource
|b What has Driven it and Have Prices Overshot?
|c David, Rae and Paul, van den Noord
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|a L'envolée du marché irlandais du logement / David, Rae et Paul, van den Noord
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|a L'envolée du marché irlandais du logement
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| 260 |
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|a Paris
|b OECD Publishing
|c 2006
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| 300 |
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|a 26 p.
|c 21 x 29.7cm
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| 653 |
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|a Economics
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| 653 |
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|a Ireland
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| 700 |
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|a van den Noord, Paul
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|a eng
|2 ISO 639-2
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|b OECD
|a OECD Books and Papers
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|a OECD Economics Department Working Papers
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|a /10.1787/752770732812
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|a oecd-ilibrary.org
|u https://doi.org/10.1787/752770732812
|x Verlag
|3 Volltext
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|a 330
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|a The Irish housing market is very buoyant. The housing boom is driven by strong economic growth, dynamic demographics and low interest rates. However, large tax advantages and relatively lenient credit policies by banks have also played their part, and prices may have become overvalued. To the extent that high house prices reflect favourable tax treatment, they may lead to economic inefficiencies by drawing excessive resources into residential construction. While a soft landing appears the most likely prospect, a disorderly correction of house prices would pose risks for macroeconomic and possibly financial stability. In this context, one policy lever available to the government would be a phased removal of the tax advantages associated with housing. In addition, banks should remain cautious in their lending and provisioning policies
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