Detecting exuberance in house prices across Canadian cities

Ugochi Emenogu, Cars Hommes and Mikael Khan

No 2021-9, Staff Analytical Notes from Bank of Canada

Abstract: We introduce a model to detect periods of extrapolative house price expectations across Canadian cities. The House Price Exuberance Indicator can be updated on a quarterly basis to support the Bank of Canada’s broader assessment of housing market imbalances.

Keywords: Econometric and statistical methods; Financial stability; Housing (search for similar items in EconPapers)
JEL-codes: C53 R21 R31 (search for similar items in EconPapers)
Date: 2021-05
New Economics Papers: this item is included in nep-ure
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