Source 3 murphy l 2011 the global financial crisis

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SOURCE 3: Murphy, L. (2011). The global financial crisis and the Australian and New Zealand housing markets. Journal of Housing and the Built Environment, 26(3), 335. Descriptive Summary This article provides a critical analysis of the impact brought by financial crisis on the housing markets in Australia and New Zealand. The two countries have actively realized the liberalization of the mortgage market and endure the severe impacts of the inflation of house price after the year of 2000. However, the Australian housing market has not experienced a serious real estate downturn when compared to United States. Relevance and evaluation: The article identifies Australia's government policies,practices, and market conditions that provide shelter for the housing market and create potential conditions for new real estate booms. This article provides a reasonable analytical basis for realizing the sustainable development of the housing market and avoiding a serious real estate recession. It is an important reference for analyzing and resolving the sustained macroeconomic impacts of a system based on real estate inflation. SOURCE 4:
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Randolph, B., & Tice, A. (2013). Who lives in higher density housing? A study of spatially discontinuous housing sub-markets in Sydney and Melbourne. Urban Studies, 50(13), 2661-2681. Descriptive Summary Urban policies and development have led to the increase of high-density housing , such as apartments, and it becomes a great feature of the urban residential market in Australia. Using the concept of a spatially discontinuous housing market, this article analyzes the current housing demand structure in largest cities in Australia, such as Sydney and Melbourne. Relevance and evaluation: This paper provides a new analytical tool for the high-density housing market for the future development of Sydney property market. It is useful to understand the policies regarding property market and analyze the impacts brought by discontinuous housing sub-market . SOURCE 5: Apergis, N., & Lambrinidis, L. (2011). More evidence on the relationship between the stock and the real estate market. Briefing Notes in Economics, 85. Descriptive Summary This study explores the relationship between the property market and stock market. There is a significant relationship between the cointegration method, the error correction model, as well as the stock and real data of property market. Relevance and evaluation: The empirical results of this paper can be used to analyze the future pricing efficiency of the property market in Sydney, discuss the impact of the trends of the stocks on the development of property market, and provide instructions on managing property assets.
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