Hyvää yötä siskot ja veljet

Jees, eli ei tainnut olla mainintaa Suomesta, musta ökymaista kylläkin:)

summary
• Over-valued housing markets pose substantial risks in a number of
countries, especially Australia, Canada, Ireland, Spain, Sweden, the United
Kingdom and the United States.
• As interest rates rise over the cycle, there will be downward pressure on
house prices and there is a risk that a number of housing bubbles will burst.
• This in turn will pose risks to the financial system and to macroeconomic
policy, although given that the inflation outlook is still fairly benign there is
scope for appropriate policy responses.
• There are also risks to financial markets. A fall in US asset prices could lead
to a credit contraction elsewhere, and a big rise in US bond yields might
raise bond yields across the whole world.
• Given the likelihood of a ‘flight to quality’, this would be especially marked
for developing countries and other low grade debt (q.v. the Peso crisis of
1994), even if the effect on the US is only transitory.

omistusasuja kirjoitti:

Jees, eli ei tainnut olla mainintaa Suomesta, musta ökymaista kylläkin:)

summary
• Over-valued housing markets pose substantial risks in a number of
countries, especially Australia, Canada, Ireland, Spain, Sweden, the United
Kingdom and the United States.
• As interest rates rise over the cycle, there will be downward pressure on
house prices and there is a risk that a number of housing bubbles will burst.
• This in turn will pose risks to the financial system and to macroeconomic
policy, although given that the inflation outlook is still fairly benign there is
scope for appropriate policy responses.
• There are also risks to financial markets. A fall in US asset prices could lead
to a credit contraction elsewhere, and a big rise in US bond yields might
raise bond yields across the whole world.
• Given the likelihood of a ‘flight to quality’, this would be especially marked
for developing countries and other low grade debt (q.v. the Peso crisis of
1994), even if the effect on the US is only transitory.

mainitaan missään. Se ei kuitenkaan tarkoita etteikö täällä kuplaa olisi...:-)