Nov
28
ESRB Warns on Risks From Europe’s Residential Real-Estate
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Macroprudential body sees vulnerabilities in eight countries
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Brexit vote may prove to be a turning point for U.K. market
The European Systemic Risk Board warned eight European Union countries that rapid increases in house prices and mortgage debt could jeopardize their economies.
After an EU-wide assessment, Europe’s macroprudential authority singled out Austria, Belgium, Denmark, Finland, Luxembourg, the Netherlands, Sweden and the U.K. as having “medium-term vulnerabilities” related to their residential real-estate markets. Highly indebted households are particularly vulnerable to economic shocks such as higher unemployment or a drop in incomes, it said in a report published Monday…
ESRB Warns on Risks From Europe’s Residential Real-Estate
