However, this approach might also run a larger risk of prematurely truncating the expansion - especially if markets interpret the first  4  BIS Review 19/2004  tightening move as presaging a rapid return to a so-called neutral policy.
Real estate makes a sizable contribution to gross domestic product, from both housing investment and consumption spending on housing services, which is what renters and homeowners pay for the shelter and amenities provided by housing. Real estate also matters for inflation.