{"id":113408,"date":"2024-01-22T18:32:34","date_gmt":"2024-01-22T17:32:34","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/113408\/"},"modified":"2024-11-07T04:12:53","modified_gmt":"2024-11-07T03:12:53","slug":"immobilienkrise-mehr-als-der-ausloeser-der-finanzmarktkrise-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/113408\/","title":{"rendered":"The Bursting of the Real Estate Bubble: More than a Trigger for the Financial Crisis"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-113408","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The bursting of the housing bubble in the USA was a key factor to propel the ensuing financial crisis. When real estate suffers a massive loss of value, banks are in greater trouble than when faced with a stock market crash because land is the main collateral for bank loans and home ownership is much more widespread than shareholdings. Historical studies have found a close link between real estate crises and financial crises. A collapse of real estate prices typically precedes a financial crisis by about a year.","onlinedate":"2009-12-21 01:00:00","lang":"German","publication_series":"","publication_date":"20091201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":335651,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"82","monthly_report_pages":"943-950","monthly_report_pages_sort":"943","issue":"12","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44312],"research_groups":[3500],"collaboration":"","persons":[3893],"persons_data":"[{\"personId\":3893,\"personName\":\"Ewald Walterskirchen\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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