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@article{ART001861446},
author={LEE Hyunjeong and Lee Jong Kwon},
title={The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2014},
volume={24},
number={1},
pages={105-120}

TY - JOUR
AU - LEE Hyunjeong
AU - Lee Jong Kwon
TI - The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States
JO - Korea Real Estate Review
PY - 2014
VL - 24
IS - 1
PB - korea real estate research institute
SP - 105
EP - 120
SN - 2092-5395
AB - This research is to examine the impacts of the on-going global financial crisis on the housing systems of welfare states. Four developed economies in the Western Europe were selected for the analysis, and the qualitative research employed in-depth interviews with scholars in the fields of housing market and social policy in order to meet the research goal. The major findings indicate that the global economic crisis embedded into the liberalization of housing finance and the inadequacy of regulatory measures caused the vicissitude of housing markets, and its scale and magnitude could be determined by the resilience of each state’s housing system. While the globalization of housing finance markets rendered easy borrowing for homeownership, intensive competition for excessive lending among financial institutions backed by heavy reliance on inter-bank and overall bank triggered market volatility, and further worsened household and public debts. It’s clearly evident that a housing system with varied safety nets becomes a greater cushion to bear the risks of the financial crisis and to weather the economic storm.
KW - global financial crisis;housing system;housing market;housing finance;housing policy;welfare states
DO -
UR -
ER -

LEE Hyunjeong and Lee Jong Kwon. (2014). The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States. Korea Real Estate Review, 24(1), 105-120.

LEE Hyunjeong and Lee Jong Kwon. 2014, "The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States", Korea Real Estate Review, vol.24, no.1 pp.105-120.

LEE Hyunjeong, Lee Jong Kwon "The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States" Korea Real Estate Review 24.1 pp.105-120 (2014) : 105.

LEE Hyunjeong, Lee Jong Kwon. The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States. 2014; 24(1), 105-120.

LEE Hyunjeong and Lee Jong Kwon. "The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States" Korea Real Estate Review 24, no.1 (2014) : 105-120.

LEE Hyunjeong; Lee Jong Kwon. The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States. Korea Real Estate Review, 24(1), 105-120.

LEE Hyunjeong; Lee Jong Kwon. The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States. Korea Real Estate Review. 2014; 24(1) 105-120.

LEE Hyunjeong, Lee Jong Kwon. The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States. 2014; 24(1), 105-120.

LEE Hyunjeong and Lee Jong Kwon. "The Global Financial Crisis and Its Impacts on the Housing Systems of Western European Welfare States" Korea Real Estate Review 24, no.1 (2014) : 105-120.