Your English writing platform
Discover LudwigSuggestions(1)
Exact(8)
But the rapid increases in house values in much of the rest of the country cannot continue long, Mr. Greenspan added.
Local governments, which rely heavily on property taxes to fund local schools, have been particularly hard hit by the prolonged slump in house values.
A fall in house values means there is less scope for running down home equity to prop up consumption.Mr Buiter agrees that this is an important channel through which falling house prices might hurt spending.
The crash in house values gutted the wealth of the non-rich and forced them into household austerity, sapping the economy of demand.But as David Beckworth points out, this is not a complete story of the crisis.
It had 600 applications for 200 places even for its first year and, before it opened, savvy middle-class parents – many of them from public-sector professions – were already buying into the local area, anticipating not only a good school for their children but also a sharp rise in house values.
Consumers are likely to consider a fall in house values as a durable change in wealth and may cut spending more sharply in response.Alternatively some, such as Willem Buiter, a former member of the Bank of England's monetary-policy committee, believe there is no wealth effect from housing at all.
Similar(48)
Delve into your little black book for contacts with inside knowledge, Google people, read the company's annual reports if there are any, and if they produce any sustainability reports these might help you to glean in-house values.
Where possible, initial metabolite concentrations were updated according to in-house values; otherwise recent literature data for respiro-fermentative, non-starved cells were used [24].
What's more, quite a lot of the rise in housing wealth is down to growth in housing values, and quite a lot of the growth in housing values can be attributed to restrictions on housing supply growth.
Another factor attracting new-home buyers is the appreciation in housing values, particularly as stock prices decline, economists said.
Also motivating buyers, economists say, is the strong appreciation in housing values, especially as the stock market has weakened.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com