Financial Analytics: Science and Experience

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Financial Analytics: Science and Experience

11(35) - 2010 September

Five macroeconomic laws of the functioning of the market for real estate as inherent component of global financial market in the transitive economy

Vol. 3, Iss. 11, SEPTEMBER 2010

Available online: 17 September 2010

Subject Heading: MACRO-ECONOMY

JEL Classification:

Sternik S.G. doctor of economics, the professor of the department for anticrisis control the All-Russian state tax academy of the RF Ministry of Finance
sergey_sternik@hotmail.com

Sternik G.M. the professor of the department for the economy and control of urban building Russian economic academy of a name G.V. Plekhanov
gm_sternik@sterno.ru

The authors revealed the signs, which characterize situation on the market for real estate from the point of view of the relationship of the rates of increase in prices and incomes of population, are calculated the corresponding dependences based on the example of the market for the dwelling of Moscow from 1998 until 2009. On this basis is built the complex typology of markets according to the tendency toward the formation of price bubbles. The obtained results made it possible to formulate and to explain five macroeconomic laws of the functioning of the market for real estate in the transitive economy as inherent component of global financial market.

Keywords: finances, market, real estate, price, bubble, dependence, income, elasticity, the macro-economy, cycle, typology

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ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

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