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- Title
Fundamentos del precio de las viviendas en Uruguay.
- Authors
Ponce, Jorge
- Abstract
This paper proposes a model of fundamentals for the price of housing. The model is calibrated with data for Uruguay. The main findings are: Real housing prices fluctuate more than justified by fundamentals; the misalignment was statistically significant just before the 2002 crisis; a fall in fundamental prices anticipates the crisis; and, in the recent period fundamental prices follow a stable trend of positive growth while real housing prices fluctuates around it.
- Subjects
URUGUAY; HOME prices; DWELLINGS; URUGUAYAN economy; FINANCIAL crises; ECONOMIC development; ECONOMIC recovery
- Publication
Monetaria, 2015, Vol 37, Issue 2, p197
- ISSN
0185-1136
- Publication type
Article