1.1. For this exercise, you need to locate housing price index data for different countries. Go to the Web site of the Bank for International Settlements and locate residential

(www.bis.org/statistics/pp_detailed.htm

).

real estate prices Select three industrialized countries (make sure at least one of them is mentioned as a “housing bubble country” in this chapter) and compare the development of real estate prices over the past 20 years. Now write a short summary of what you’ve learned. Make sure that you incorporate some specific data into your summary.