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Venue

WebEx

Format

online

Date

Wednesday, September 21, 2022

In cooperation with

In this workshop, we will discuss the drivers of real estate prices: How far will interest rate hikes curb real estate credit and prices? Is there a risk of bursting bubbles? Are real estate markets overvalued? Furthermore, which policy measures should governments and macroprudential supervisors take: state of play, comparative stock-taking of best practices, including macropru and taxation?

Program

Time
Wednesday, 21 September 2022
13:30
Welcome
13:35
Session 1: Valuation, drivers and risks
Chair: Sylvain Broyer, Chief EMEA Economist, S&P Global Ratings

Housing market risks in the wake of the pandemic

Deniz Igan, Head of Macroeconomic Analysis, BIS and SUERF presentation

How overheated is the German real estate market?

Anke Wetzka, Senior Economist, General Economics, Deutsche Bundesbank presentation

The role of institutional investors in housing markets

Manuel A. Muñoz, Senior Lead Expert, European Central Bank presentation
15:00
Session 2: Policy measures
Chair: Ernest Gnan, Head, Monetary Policy Section, OeNB I SUERF

Keeping house prices in check: the role of policy

Luiz de Mello, Director, Economics Department, OECD presentation

Discussion of policy options

John Muellbauer, Professor, Nuffield College, University of Oxford presentation
16:00
End