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Assessing House Prices in Canada
Author:
Michal Andrlenull

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Miroslav Plašilnull

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Series:
IMF Working Papers
Volume/Issue:
Volume 2019: Issue 248
Language:
English
Publication Date:
15 Nov 2019
DOI:
https://doi.org/10.5089/9781513519180.001
ISBN:
9781513519180
ISSN:
1018-5941
Pages:
25
Keywords:
WP; interest rate; price; mortgage rate; income; house prices; borrowing capacity; valuation; financial stability; household income; mortgage interest rate; condominium price; interest rate decline; mortgage rate dynamics; cost of equity; income growth; mortgage rates decline; house price assessment; horizon mortgage rate; net rental income; price correction; Housing prices; Mortgages; Personal income; Housing; Inflation
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2019: Issue 248