A Better Housing Finance System
A Better Housing Finance System
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更好的住房金融体系
DOI：
--
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发表时间：
2013
影响因子：
2.1
通讯作者：
A. Armstrong
中科院分区：
文献类型：
--
作者：
A. Armstrong
住房融资长期以来一直被认为是英国经济的一个特殊弱点，与几十年来的需求和房价繁荣和萧条有关。过去二十年来，由于对住房金融创新缺乏监管反应，导致该体系变得更加糟糕。可负担的长期固定利率抵押贷款仍然特别短缺，抵押贷款的供应受到高收益投资者的动物精神的影响，而批发融资工具直接导致了银行资产负债表的脆弱性。
Housing finance has long been recognised as a particular weakness of the UK economy, associated with demand and house price booms and busts for decades. The lack of regulatory response to innovations in housing finance over the past two decades has allowed the system to become even worse. There remains a particular shortage of affordable long-term fixed rate mortgages, the supply of mortgages is influenced by the animal spirits of high yield investors and wholesale funding vehicles directly contributed to the fragility of banks’ balance sheets.