Daniel Norris, Elio Cucullo and Vasilis Jacovides When borrowers enter a fixed-rate mortgage, lenders test whether they could continue to afford their mortgage if interest rates were to increase by the time it comes to re-fix. This ‘stressing’ is designed to create additional resilience for borrowers and the financial system. Over the last two years, … Continue reading Mortgage affordability for borrowers who re-fixed in 2023
Housing market
Investor purchases accounted for 24 percent of all residential real estate sales in Boston in the fourth quarter of 2022. A 10 percent tax on those sales could yield $82 million in revenue.
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Nicola Garbarino, Benjamin Guin and Jonathan Lee 5.2 million properties in England are at risk of flooding. To ensure the availability and affordability of flood insurance to households in flood-prone areas, the UK Government introduced an innovative reinsurance scheme, Flood Re, in April 2016. It provides insurers with an option to pass the flood-risk element … Continue reading The effects of subsidised flood insurance on real estate markets
Martina Fazio and Gary Harper During recessions, and indeed pandemics, housing prices usually fall. Yet between March 2020 and December 2021 (‘the pandemic’), housing prices grew in the UK, reaching at the time their highest growth rate in a decade. During this pandemic, many more people could work from home, which potentially influenced their housing … Continue reading Location, location, location? How UK housing preferences shifted during the pandemic