04249oam 22011174 450 991078822530332120230721045725.01-4623-3961-11-4518-7382-41-282-84436-997866128443621-4527-2987-5(CKB)3170000000055367(SSID)ssj0000941855(PQKBManifestationID)11543934(PQKBTitleCode)TC0000941855(PQKBWorkID)10971974(PQKB)10925793(OCoLC)609993476(MiAaPQ)EBC1608848(IMF)WPIEE2009235(EXLCZ)99317000000005536720020129d2009 uf 0engurcn|||||||||txtccrIs the Canadian Housing Market Overvalued? A Post-crisis Assessment /Evridiki TsountaWashington, D.C. :International Monetary Fund,2009.20 p. illIMF Working Papers"October 2009."1-4519-1800-3 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.IMF Working Papers; Working Paper ;No. 2009/235HousingCanadaEconometric modelsHousingPricesCanadaEconometric modelsFinancial Risk ManagementimfInflationimfInfrastructureimfReal EstateimfIndustries: Financial ServicesimfHousing Supply and MarketsimfEconomic Development: Urban, Rural, Regional, and Transportation AnalysisimfHousingimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfFinancial CrisesimfPrice LevelimfDeflationimfProperty & real estateimfMacroeconomicsimfFinanceimfEconomic & financial crises & disastersimfHousing pricesimfAsset bubblesimfPricesimfSaving and investmentimfFinancial crisesimfCanadaimfHousingEconometric models.HousingPricesEconometric models.Financial Risk ManagementInflationInfrastructureReal EstateIndustries: Financial ServicesHousing Supply and MarketsEconomic Development: Urban, Rural, Regional, and Transportation AnalysisHousingBanksDepository InstitutionsMicro Finance InstitutionsMortgagesFinancial CrisesPrice LevelDeflationProperty & real estateMacroeconomicsFinanceEconomic & financial crises & disastersHousing pricesAsset bubblesPricesSaving and investmentFinancial crisesTsounta Evridiki1493448International Monetary Fund.Western Hemisphere Dept.DcWaIMFBOOK9910788225303321Is the Canadian Housing Market Overvalued? A Post-crisis Assessment3741557UNINA