Michael and Arthur
1. Financial crisis 2008 and it’s impact on Switzerland
- Financial crisis was caused by a bubble on the us housing market, it made banks tremble
- The impact was strong and worldwide
- Many studies in the US, our reference for this project is the «Bay Area Blues: The Eﬀect of the Housing Crisis». They say expensive houses are less aﬀected than cheap houses
- Ongoing surge of average house prices in Switzerland in general, but lack of local data.
2. What are the criteria for a bubble?
- You see strong growth in loan volume and the real estate prices
- If both grow over years faster than GDP, you can talk about a bubble
- If we ﬁnd data that conﬁrm the two criteria, it is worth to investigate further, if not, we have to give up.
3. What did we do?
- We did look at the Public Data you ﬁnd on the Webside of Swiss National Bank and Oﬃce for Statistics for the time from 2004 to 2014
- Inflation: 5.5 %
- GDP: 32.4 %
- House prices 54.5 %
- Housing credits: 86.6 % regional range from 36.8 % to 60.4 %, 8 regions published
- Conclusion: There must be regions where you can talk about a bubble, let’s go on and ﬁnd local data. Oﬃcially you don’t get statistic on local sales. Finally we found a private company specialized in the housing business that gave as some data.
4. The Visualization