Nationalbank-direktør Lars Rohde: Risikorådets ønske om indgriben i boligmarkedet skyldes ikke de stigende boligpriser. I en tale over for et international publikum udtalte Lars Rohde forleden: ”Assessing the vulnerability of the housing market has made Danmarks Nationalbank call for action.
Let me reflect on why. Our call for action is not related to the recent surge in prices as such, but to the general structures and in Denmark, some politically decided structures weigh on the robustness of the housing market. These structures have stimulated price increases before and during the pandemic, instead of stabilising them.
This leaves the economy vulnerable to spillovers from the housing market. Let me just emphasise that most of the severe economic setbacks has originated from problems in the housing market. The main risk runs through a collateral channel, as household spending tends to be affected by home equity shocks. 11 The bigger the shocks, the bigger the spending effect, which in turn affects household leveraging. In particular, we have conveyed three recommendations to improve structures.”
MWL
