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Canadian city housing prices and urban market segmentation

Jason Allen (), Robert Amano, David Byrne () and Allan Gregory ()

Canadian Journal of Economics, 2009, vol. 42, issue 3, 1132-1149

Abstract: This paper provides a detailed empirical analysis of Canadian city housing prices. We examine the long-run relationship between city house prices in Canada from 1985 to 2005 as well as idiosyncratic relations between city prices and city-specific variables. The results suggest that city house prices are only weakly correlated in the long run and that there is a disconnect between house prices and interest rates. City-specific variables such as union wage levels and the issuance of building permits tend to be positively related to existing city house prices. Surprisingly, there is mixed evidence with respect to standard measures of economic activity such as per capita GDP and interest rates.

JEL-codes: C22 C32 R2 (search for similar items in EconPapers)
Date: 2009
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Journal Article: Canadian city housing prices and urban market segmentation (2009) Downloads
Working Paper: Canadian City Housing Prices and Urban Market Segmentation (2006) Downloads
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