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Is the Canadian housing market overvalued? a post-crisis assessment Cover Image

E-book

Is the Canadian housing market overvalued? a post-crisis assessment

Tsounta, Evridiki. (Author). Canadian Electronic Library (Firm) (Added Author). Coherent Digital (Firm) (Added Author). International Monetary Fund. Western Hemisphere Department. (Added Author).

Summary: Canadian house prices have increased significantly between 2003 and early 2008, with a marked downward trend since mid-2008, especially in the resource-rich western provinces. This paper estimates the evolution of equilibrium real home prices during this period in key provinces and finds that, following recent declines, home prices are now generally close to equilibrium throughout Canada. However, house prices in Alberta and British Columbia remain around 8 percent overvalued at the end of the sample (second quarter of 2009). Despite the limitations of econometric estimates of house-price dynamics, the measured small degree of overvaluation suggests that the Canadian housing market is essentially at equilibrium.

Record details

Physical Description: 1 electronic text (20 p.) : ill. (some col.), digital file.
remote
Computer data.
electronic resource
Publisher: [Washington, D.C.] : International Monetary Fund, c2009

Content descriptions

General Note:	"October 2009"--P. [1]. "Western Hemisphere"--P. [1]. CatMonthString:january.23 Issued as part of the desLibris documents collection. Multi-User.
Bibliography, etc. Note:	Includes bibliographical references (p. 13-14).
Formatted Contents Note:	I. Introduction -- II. Recent housing market developments -- A. The run-up in house prices and construction -- B. Reversal in house prices -- III. Macrofinancial linkages from the housing market -- IV. Existing literature -- V. Econometric model and results -- VI. Conclusions -- References.
Type of Computer File or Data Note:	Text (HTML), electronic book.
System Details Note:	Mode of access: Internet.
Terms Governing Use and Reproduction Note:	Access requires VIU IP addresses and is restricted to VIU students, faculty and staff. Access restricted by subscription.
Issuing Body Note:	Made available online by Canada Commons.