European Parliament Library

Canada :, Selected Issues Paper

Canadian housing prices are higher than levels consistent with current fundamentals in some provinces. The empirical estimates suggest that a 10 percent decline in housing prices would lead to a 1¼ percent decline in private consumption. The high level of household leverage and housing prices could prove to be a source of vulnerability. The rebound in debt and housing prices after the crisis largely reflects the resilience of the financial system and the stronger economic recovery in Canada, as well as historically low interest rates
Table Of Contents
Cover; Contents; I. House Prices and Household Wealth in Canada; A. Introduction; Figures; I.1. Homeownership, Household Debt, Owners' Equity, and House Prices; I.2a. Household Assets in Advanced Economies; I.2b. Household Liabilities in Advanced Economies; B. The Evolution of House Prices; I.3. House Prices in Canada, Its Major Provinces, and Major Metropolitan Areas; Tables; I.1. Estimates of House Price Equations; C. Housing Wealth and Consumption; D. Conclusion; References; Appendices; I.1. Data Sources and Estimation Method; II. The Role of the CMHC in the Canadian Mortgage Market
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (47 p.)
Specific Material Designation
Form Of Item

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