LEADER 03265nam  2200589Ia 450 
001 9910812017203321
005 20200520144314.0
010   $a1-4623-3961-1
010   $a1-4518-7382-4
010   $a1-282-84436-9
010   $a9786612844362
010   $a1-4527-2987-5
035   $a(CKB)3170000000055367
035   $a(SSID)ssj0000941855
035   $a(PQKBManifestationID)11543934
035   $a(PQKBTitleCode)TC0000941855
035   $a(PQKBWorkID)10971974
035   $a(PQKB)10925793
035   $a(OCoLC)609993476
035   $a(MiAaPQ)EBC1608848
035   $a(IMF)WPIEE2009235
035   $a(EXLCZ)993170000000055367
100   $a20100308d2009      uf         0
101 0 $aeng
135   $aurcn|||||||||
181   $ctxt
182   $cc
183   $acr
200 10$aIs the Canadian housing market overvalued? $ea post-crisis assessment /$fprepared by Evridiki Tsounta
205   $a1st ed.
210   $a[Washington, D.C.] $cInternational Monetary Fund, Western Hemisphere Dept.$d2009
215   $a20 p. $cill
225 1 $aIMF working paper ;$vWP/09/235
300   $a"October 2009."
311   $a1-4519-1800-3 
327   $aIntro -- Contents -- 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 -- Figures -- 1. Canada.  Cummulative Increase in Resale House Prices -- 2. G-7. Price-to-income and price-to-rent ratios, 1970-2009 -- 3. Select Eastern Canadian Provinces: House Price Over/Undervaluation, 1993Q1-2009Q2 -- 4. Select Western Canadian Provinces: House Price Over/Udnervaluation, 1993Q1-2009Q2 -- Tables -- 1. Real Prices of New  Houses and Land, 1995-2009Q2 -- 2. Determinants of House Prices in Select Canadian Provinces.
330 3 $aCanadian house prices have increased significantly between 2003 and early 2008, with a marked downward trend since mid-2008, especially in the resource-rich western provinces. This paper estimates the evolution of equilibrium real home prices during this period in key provinces and finds that, following recent declines, home prices are now generally close to equilibrium throughout Canada. However, house prices in Alberta and British Columbia remain around 8 percent overvalued at the end of the sample (second quarter of 2009). Despite the limitations of econometric estimates of house-price dynamics, the measured small degree of overvaluation suggests that the Canadian housing market is essentially at equilibrium.
410  0$aIMF working paper ;$vWP/09/235.
606   $aHousing$zCanada$xEconometric models
606   $aHousing$xPrices$zCanada$xEconometric models
615  0$aHousing$xEconometric models.
615  0$aHousing$xPrices$xEconometric models.
676   $a301.5;301.540971
700   $aTsounta$b Evridiki$01600317
712 02$aInternational Monetary Fund.$bWestern Hemisphere Dept.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910812017203321
996   $aIs the Canadian housing market overvalued$94199328
997   $aUNINA