FINANCIAL STABILITY

Following the global financial crisis and the Sub-prime crisis in the United States, real estate sector has become of increasing significance to financial regulators, governments, banks and indeed all stakeholders, as far as financial stability is concerned. The rapid growth in property markets, often supported by a strong expansion in bank lending especially in a number of emerging economies, has raised legitimate concerns on the issue of stability. The paper “The Property Markets and Financial Stability: Seeing Through The Lens” by Solomon Okedara, in a very admirable approach, analyzes the vital issues involved in property markets and financial stability, thereby proposing the most practicable and solution-oriented model in a real estate bubble-burst cycle.

Perhaps, the most irresistible part of this intellectually stimulating and empirically instructive work is the part which advises on effective supervision by regulators. This paper did not however, draw down its curtains without an expose on Asia and the Pacific and Nigeria under the sub-themes “Bringing The Lens Closer: The Asia and The Pacific Experience & The Nigerian Experience which fascinatingly reflects the differences owing to peculiar property situations,which definitely buttreesses the cliche that says "There are different strokes for different folks. WATCH OUT!