1、6900 英文单词， 3.6 万英文字符 ，中文 1.1 万字 文献出处： Jones C , Richardson H W . Housing markets and policy in the UK and the USA: A review of the differential impact of the global housing crisisJ. International Journal of Housing Markets & Analysis, 2014, 7(1):129-144(16). Housing markets and policy in the UK and
2、the USA A review of the differential impact of the global housing crisis Colin Jones,Harry W. Richardson Abstract Purpose This paper aims to examine how the exogenous shock of the global financial crisis has had a differential impact on the housing markets of the USA and UK. Design/methodology/appro
3、ach The paper begins by examining the nature and dynamics of the global financial crisis. It presents a detailed comparison of institutional and housing market characteristics in each country. A particular focus is the differences in mortgage funding and subprime lending trends over the decade leadi
4、ng up to the financial crisis. Findings The analysis demonstrates the distinctiveness of the recent housing cycles and the geography of the downward price adjustments. Relative unemployment rates play a key role in these outcomes. Despite the different dynamics of the boom and bust, there is a commo
5、n legacy in terms of the collapse of house building, repossessions/foreclosures and falling home ownership rates. The short-term policy responses by both governments addressed the same target issues in alternative ways but with different outcomes. Longer-term solutions are still being debated in bot
6、h countries. Originality/value Innovatory insights are provided by the comparison of the sub-national spatial pattern of the recent house price cycle in two countries. Keywords: USA, UK, Interest rates, Housing finance systems, International housing markets, Rent or buy Introduction This paper examines how the exogenous shock of the global financial crisis has had a differential impact on the housing markets of the USA and UK. Both countries had similar home ownership rates in the u
