TY - BOOK ID - 135953809 TI - Don't Look Up: House Prices in Emerging Europe AU - Cevik, Serhan. AU - Naik, Sadhna. PY - 2022 SN - 9798400227622 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - China, People's Republic of KW - Macroeconomics KW - Economics: General KW - Real Estate KW - Banks and Banking KW - Inflation KW - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) KW - Prices, Business Fluctuations, and Cycles: Other KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Personal Income and Other Nonbusiness Taxes and Subsidies KW - Urban, Rural, and Regional Economics: Housing Demand KW - Housing Supply and Markets KW - Interest Rates: Determination, Term Structure, and Effects KW - Aggregate Factor Income Distribution KW - Price Level KW - Deflation KW - Economic & financial crises & disasters KW - Economics of specific sectors KW - Property & real estate KW - Finance KW - Housing prices KW - Prices KW - Long term interest rates KW - Financial services KW - Short term interest rates KW - Income KW - National accounts KW - Currency crises KW - Informal sector KW - Economics KW - Housing KW - Interest rates UR - https://www.unicat.be/uniCat?func=search&query=sysid:135953809 AB - This paper investigates how housing prices respond to economic, financial and demographic conditions in emerging markets in Europe. We use quarterly data covering 10 countries over the period 1998–2022 and implement a panel quantile regression approach to obtain a granular analysis of real estate markets. Overall, economic, financial and demographic factors explain the changes in real house prices in emerging Europe, with income growth having the most significant impact. Quantile regression estimations show that income growth matters more for higher housing prices than those at the lower quantiles of the property market. We also find that an increase in short-term or long-term interest rates have a price-dampening impact, indicating that a higher cost of borrowing is associated with lower real house prices. These results indicate that the downturn in house prices could deepen with the looming economic recession and soaring interest rates. ER -