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The Influence Of Financing On The Dynamics Of Housing Prices

Author

Listed:
  • Bełej Mirosław

    (University of Warmia and Mazury in Olsztyn, Department of Land Management and Regional Development, Prawocheńskiego 15, 10-720 Olsztyn, Poland)

  • Kulesza Sławomir

    (University of Warmia and Mazury in Olsztyn, Faculty of Mathematics and Computer Science, Słoneczna 54, 10710 Olsztyn, Poland)

Abstract

Real estate market can be thought of as an open, dynamic system. It means that it is able to exchange stimuli with other open systems, and that its state evolves in a way that might be described mathematically. It turns out that two main processes contribute to the overall evolution of the real estate market: long-term, predictable evolution, interrupted by sharp changes of catastrophic origin. In this picture, national housing funds play an important role in supporting the housing finance: on one hand they could either stimulate or suppress the real estate market influencing the availability of the mortgage credit, but on the other hand, they could also help to stabilize prices. In this study, an attempt was made to determine the degree of relationship between the volume of mortgage financing from national housing funds and the dynamics of real estate prices.

Suggested Citation

  • Bełej Mirosław & Kulesza Sławomir, 2014. "The Influence Of Financing On The Dynamics Of Housing Prices," Folia Oeconomica Stetinensia, Sciendo, vol. 14(2), pages 101-113, December.
    • Handle: RePEc:vrs:foeste:v:14:y:2014:i:2:p:101-113:n:11
    DOI: 10.1515/foli-2015-0011
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    References listed on IDEAS

    as
    1. J. Perello & J. Masoliver & A. Kasprzak & R. Kutner, 2008. "A model for interevent times with long tails and multifractality in human communications: An application to financial trading," Papers 0805.1353, arXiv.org, revised Jul 2008.
    2. repec:arz:wpaper:eres2011-260 is not listed on IDEAS
    3. A. Kasprzak & R. Kutner & J. Perelló & J. Masoliver, 2010. "Higher-order phase transitions on financial markets," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 76(4), pages 513-527, August.
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    More about this item

    Keywords

    housing market; market financing; system dynamics;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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