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Assessing House Prices in Canada

Author

Listed:
  • Michal Andrle
  • Miroslav Plašil

Abstract

This paper assesses house prices in 11 Canadian Census Metropolitan Areas (CMA) using the borrowing-capacity and the net-present-value approaches. The results indicate that by the end of 2018, house prices in most metropolitan areas are aligned with macroeconomic fundamentals. However, in Hamilton, Toronto, and Vancouver house prices have increased beyond the values implied by the fundamentals.

Suggested Citation

  • Michal Andrle & Miroslav Plašil, 2019. "Assessing House Prices in Canada," IMF Working Papers 2019/248, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2019/248
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=48777
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    References listed on IDEAS

    as
    1. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-1278, December.
    2. Michal Andrle & Miroslav Plašil, 2019. "Assessing House Prices with Prudential and Valuation Measures," IMF Working Papers 2019/059, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Alter, Adrian & Mahoney, Elizabeth M., 2021. "Local house-price vulnerability: Evidence from the U.S. and Canada," Journal of Housing Economics, Elsevier, vol. 54(C).

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