Aron, Janine; Muellbauer, John - Centre for the Study of African Economies (CSAE), … - 2006
literature is marred by poor controls for the common drivers both of house prices and consumption, including income, income … substantial credit market liberalization and rising consumption to income ratios. However, South Africa.s circumstances in the … growth expectations, interest rates, credit supply conditions, other assets and indicators of income uncertainty (such as …