Is the Canadian Housing Market Overvalued?: A Post-Crisis Assessment
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, follo...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2009
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Schriftenreihe: | IMF Working Papers
Working Paper No. 09/235 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | 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 |
Beschreibung: | 1 Online-Ressource (20 p) |
ISBN: | 1451873824 9781451873825 |
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spelling | Tsounta, Evridiki Verfasser aut Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment Tsounta, Evridiki Washington, D.C International Monetary Fund 2009 1 Online-Ressource (20 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/235 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 Online-Ausg http://elibrary.imf.org/view/IMF001/10496-9781451873825/10496-9781451873825/10496-9781451873825.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Tsounta, Evridiki Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment |
title | Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment |
title_auth | Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment |
title_exact_search | Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment |
title_exact_search_txtP | Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment |
title_full | Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment Tsounta, Evridiki |
title_fullStr | Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment Tsounta, Evridiki |
title_full_unstemmed | Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment Tsounta, Evridiki |
title_short | Is the Canadian Housing Market Overvalued? |
title_sort | is the canadian housing market overvalued a post crisis assessment |
title_sub | A Post-Crisis Assessment |
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