Katalog GES



Real estate markets and bank distress

1st Person: Koetter, Michael
Additional Persons: Poghosyan, Tigran
Type of Publication: Paper
Language: English
Published: Deutsche Bundesbank 2008
Series: Discussion Paper Series 2
Keywords: Immobilienmarkt
Bankrisiko
Immobilienpreis
Kreditrisiko
Universalbank
Hypothekenbank
Vergleich
Deutschland
Deutschland
Real estate market
Bank risk
Real estate price
Credit risk
Universal bank
Mortgage bank
Comparison
Germany
Germany
Online: https://www.econstor.eu/bitstream/10419/27670/1/200818dkp_b_.pdf
id
oai_econstor.eu_10419-27670
recordtype
econstor
institution
MPG
collection
ECONSTOR
title
Real estate markets and bank distress
spellingShingle
Real estate markets and bank distress
Immobilienmarkt
Bankrisiko
Immobilienpreis
Kreditrisiko
Universalbank
Hypothekenbank
Vergleich
Deutschland
Deutschland
Real estate market
Bank risk
Real estate price
Credit risk
Universal bank
Mortgage bank
Comparison
Germany
Germany
Koetter, Michael
Discussion Paper Series 2
title_short
Real estate markets and bank distress
title_full
Real estate markets and bank distress
title_fullStr
Real estate markets and bank distress
title_full_unstemmed
Real estate markets and bank distress
title_sort
Real estate markets and bank distress
format
electronic Article
format_phy_str_mv
Paper
publisher
Deutsche Bundesbank
publishDate
2008
language
English
topic
Immobilienmarkt
Bankrisiko
Immobilienpreis
Kreditrisiko
Universalbank
Hypothekenbank
Vergleich
Deutschland
Deutschland
Real estate market
Bank risk
Real estate price
Credit risk
Universal bank
Mortgage bank
Comparison
Germany
Germany
topic_facet
Real estate market
Bank risk
Real estate price
Credit risk
Universal bank
Mortgage bank
Comparison
Germany
Germany
author
Koetter, Michael
author2
Poghosyan, Tigran
author2Str
Poghosyan, Tigran
description
We investigate the relationship between real estate markets and bank distress among German universal and specialized mortgage banks between 1995 and 2004. Higher house prices increase the value of collateral, which reduces the probability of bank distress (PDs). But higher prices at given rents may also indicate excessive expectations regarding the present value of real estate assets, which can increase PDs. Increasing price-to-rent ratios are positively related to PDs and larger real estate exposures amplify this effect. Rising real estate price levels alone reduce bank PDs, but only for banks with large real estate market exposure. This suggests a positive, but relatively small 'collateral' effect for banks with more expertise in specialized mortgage lending. Likewise, lower price-to-rent ratios are estimated to reduce the riskiness of banks. The multilevel logit model used here further shows that real estate markets are regionally segmented and location-specific effects contribute significantly to predicted bank PDs.
url
https://www.econstor.eu/bitstream/10419/27670/1/200818dkp_b_.pdf
series
Discussion Paper Series 2
seriesStr
Discussion Paper Series 2
Discussion Paper Series 2
series2
Discussion Paper Series 2
series2_facet
Discussion Paper Series 2
up_date
2019-08-17T02:50:13.259Z
_version_
1642080727281434629

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