Earlier in this work we were concerned with the determination of interest rates and the volume of funds transacted (Chapter 5). We now have to consider what effect these factors have on the housing market, and in particular on the level of house prices and the output of the building industry.
KeywordsInterest Rate House Price Housing Market Money Supply Cash Holding
Unable to display preview. Download preview PDF.
- 1.Gough, T. J., ‘The inflation in new house prices’, Economics (Journal of the Economics Association), Vol. x, Part 5 (Autumn 1974), pp. 287–98.Google Scholar
- 2.Gough, T. J. and Taylor, T. W., The Building Society Price Cartel.Google Scholar
- 3.Building Societies Gazette Vol. Cxll, No. 1353 (April 1980), p. 388.Google Scholar
- 4.Boleat, M., op. cit.Google Scholar
- 5.Building Societies Association, Mortgage Finance in the 1980’s op. cit.Google Scholar
- 7.See Ashmore, G., ‘The Owner Occupied Housing Market since 1970’. Research Memorandum No. 41, April 1975 (Centre for Urban and Regional Studies, University of Birmingham).Google Scholar
- 8.Gough, T. J., op. cit.Google Scholar
- 9.Gough, T. J., ‘A Model of Private Sector Housing Completions in the United Kingdom’. UWIST Discussion Papers in Economics, Finance and Politics, No. 7. January 1978; also idem., ‘Determinants of fluctuations in private housing investment’, Applied Economics, Vol. 4 (1972), pp. 135–44.Google Scholar
- 10.Friedman, M. and Friedman, R., Free to Choose (Secker & Warburg, 1980).Google Scholar
- 11.Aschheim, J. and Hsieh, C. H., Macroeconomics: Income and Monetary Theory, Chapter 8 (Merril Publishing Co., 1969).Google Scholar
- 12.Hegeland, H., The Quantity Theory of Money, p. 86 (reprinted by A. M. Kelly, New York, 1909).Google Scholar
- 13.A Compendium of Building Society Statistics (Building Societies Association), Part D, House Prices, pp. 81–2.Google Scholar