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QE: the next bubble?

Hilber, Christian A. L. and Cheshire, Paul (2013) QE: the next bubble? Spatial Economics Research Centre Blog (22 Mar 2013). Blog.

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Abstract

Posted by Christian Hilber and Paul Cheshire, SERC and LSE QuantitativeEasing (QE) has been pursued by Central Banks in many countries, few more diligently than in the US and in the UK. Reports from experienced watchers of commercial real estate suggest this could generate a flood of cheap money – not into productive investment but into the higher yields offered by commercial real estate or its liquid versions, Real Estate Investment Trusts. This is because QE pushes yields on bonds and securities ever further below the rate of inflation. Such shifts are already said to be visible in the US where the economy is doing just a bit better than in the UK or Europe. Of course this pushes down yields in real estate in proportion to pushing up market values. According to the FT (£) there could already be signs of this in London.

Item Type: Online resource (Blog)
Official URL: http://spatial-economics.blogspot.co.uk/
Additional Information: © 2013 The Author(s)
Divisions: European Institute
Geography & Environment
Spatial Economics Research Centre
Centre for Economic Performance
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HF Commerce
H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
J Political Science > JC Political theory
J Political Science > JN Political institutions (Europe) > JN101 Great Britain
J Political Science > JS Local government Municipal government
Sets: Departments > European Institute
Departments > Geography and Environment
Research centres and groups > Spatial Economics Research Centre
Research centres and groups > Centre for Economic Performance (CEP)
Research centres and groups > Greater London Group
Collections > LSE Spatial Economics Research Centre Blog
Date Deposited: 28 Jun 2017 13:53
Last Modified: 28 Jun 2017 13:53
URI: http://eprints.lse.ac.uk/id/eprint/82635

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