Challenges of the Housing Economy: An International Perspective -- Contents -- Contributors -- Glossary -- 1 Introduction: The Housing Economy and the Credit Crunch -- The Irish example -- International historical housing market context -- Dynamics of the housing market -- Housing market and the economy -- Origins and impact of credit crunch -- Objectives and structure of the book -- Summary -- 2 US Housing Policy in the Era of Boom and Bust -- House prices from 1995 to present -- Housing reforms for the future -- Conclusion -- 3 Housing Bubbles and Foreclosures that Follow: The Case of Las Vegas -- Data and definition of property flipping -- Anatomy of boom bust market dynamics -- Foreclosure activity after the bubble burst -- Concluding thoughts -- 4 Unemployment Risk, Homeownership and Housing Wealth: Lessons from Bubble Aftermath in Japan -- Housing bubble and burst in Japan -- Unemployment risk and homeownership -- Housing wealth and consumption -- Conclusion -- Appendices: Details of statistical analysis -- 5 The Changing Nature of Household Demand and Housing Market Trends in China -- Introduction to the housing market -- Population growth hypothesis -- Income growth hypothesis -- Monetary policy hypothesis -- Conclusions -- 6 Structural Sustainability of Homeownership in Australia -- Australia's housing system -- Future projections of homeownership sustainability -- Conclusions -- 7 Impacts on Wealth and Debt of Changes in the Danish Financial Framework Over a Housing Cycle -- Dynamics of recent Danish housing market cycles -- Changing structure of owner occupation -- Changing mortgage finance and indebtedness -- Financial stability of owner-occupied households -- Conclusions -- 8 Market Stability, Housing Finance and Homeownership in Germany -- Characteristics of the German housing market.

German housing price trends: an international comparison -- Housing demand and housing investment -- The contribution of the financing system -- The impact of the financial crisis on the German housing market -- High down-payment constraints and stability: contradicting aims? The role of savings behaviour -- Conclusion and outlook -- 9 The Responsiveness of New Supply to House Prices: A Perspective from the Spanish Housing Market -- Housing supply trends -- Spanish housing market cycle pre and post the financial crisis -- Estimation of the supply elasticity of new houses -- Summary and conclusion -- Appendix: Details of statistical analysis -- 10 The UK Housing Market Cycle and the Role of Planning: The Policy Challenge Following the Financial Crisis -- Housing market context -- Anatomy of the housing market boom and bust -- Evolution of the planning framework in the UK -- Recent planning policies -- The planning policy consequences of the recession and beyond -- New planning agenda -- Conclusions -- 11 Developments in the Role of Social Housing in Europe -- Looking back: social housing and the welfare state in Europe -- Outcomes -- Future developments -- Conclusions -- 12 Delivering Affordable Housing in the UK -- Historic social housing context in Scotland -- Background to the current Scottish affordability challenge -- Assessing the emerging models -- Concluding discussion -- 13 The Private Rented Sector As a Source of Affordable Housing -- The private rented sector within the housing system -- Potential policy developments -- Potential attraction of large investors -- Summary and conclusions -- 14 Conclusions: The Challenges Ahead -- The credit crunch -- Commonalities and challenges -- The future -- Concluding remarks -- References -- Index.