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Author: Mario Fortin Publisher: ISBN: Category : Business & Economics Languages : en Pages : 150
Book Description
With the aging of the baby-boom generation, the number of young households is falling in Canada. This study examines the contentions of the demographer David Foot, and of earlier work by Mankiw and Weil, that in such a population, the number of home buyers is bound to decrease, causing the prices of residential real estate to drop substantially. In addition to reviewing the relevant economic literature, it constructs econometric models using Canadian national and provincial data and uses them to assess whether expected demographic changes in Canada are likely to trigger a pronounced downward trend in residential real estate prices. The study concludes that even if it is true that demographics may exert downward pressure on real estate prices, such impact will probably be dominant only in certain regions, depending even there on their rates of growth in real income. In other regions, the real price should have a tendancy to rise.
Author: Mario Fortin Publisher: ISBN: Category : Business & Economics Languages : en Pages : 150
Book Description
With the aging of the baby-boom generation, the number of young households is falling in Canada. This study examines the contentions of the demographer David Foot, and of earlier work by Mankiw and Weil, that in such a population, the number of home buyers is bound to decrease, causing the prices of residential real estate to drop substantially. In addition to reviewing the relevant economic literature, it constructs econometric models using Canadian national and provincial data and uses them to assess whether expected demographic changes in Canada are likely to trigger a pronounced downward trend in residential real estate prices. The study concludes that even if it is true that demographics may exert downward pressure on real estate prices, such impact will probably be dominant only in certain regions, depending even there on their rates of growth in real income. In other regions, the real price should have a tendancy to rise.
Author: Canada Mortgage and Housing Corporation Publisher: ISBN: Category : House buying Languages : en Pages : 3
Book Description
With the aging of the baby-boom generation, the number of young households is falling in Canada. This report presents highlights of a study that reviews the relevant economic literature and constructs econometric models to assess whether expected demographic changes in Canada are likely to trigger a pronounced downward trend in residential real estate prices.
Author: John R. Miron Publisher: McGill-Queen's Press - MQUP ISBN: 9780773506145 Category : Business & Economics Languages : en Pages : 328
Book Description
Between 1945 and 1981 the Canadian population doubled, while the number of dwellings more than tripled. John Miron shows how changes in demographic structure and housing affordability affected postwar household formation and housing demand. He argues that no single explanation adequately reflects the extent of the impact of the demographic trends and the economic changes.
Author: Ms.Evridiki Tsounta Publisher: International Monetary Fund ISBN: 1451873824 Category : Business & Economics Languages : en Pages : 22
Book Description
Canadian house prices have increased significantly between 2003 and early 2008, with a marked downward trend since mid-2008, especially in the resource-rich western provinces. This paper estimates the evolution of equilibrium real home prices during this period in key provinces and finds that, following recent declines, home prices are now generally close to equilibrium throughout Canada. However, house prices in Alberta and British Columbia remain around 8 percent overvalued at the end of the sample (second quarter of 2009). Despite the limitations of econometric estimates of house-price dynamics, the measured small degree of overvaluation suggests that the Canadian housing market is essentially at equilibrium.
Author: Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
While the answer to the first question uses cross-sectional information and reveals the long-run relationship between average housing prices and immigration, the answer to the second question uses time-series information and tells us how much of the increase in average real housing prices over the last ten years can be attributed to changes in immigration. [...] In 5.2, we use two immigration ratios-the share of people who immigrated in the last 10 years in the local population (imm10down) and the share of people who immigrated earlier than 10 years ago in the local population (imm10up)-to see whether the impact of recent immigrants on the housing market is different than that of more established immigrants. [...] To see whether immigration, as one of the regional characteristics, explains differences in average housing prices among different locations, we developed the following model, which removes the impact of region-specific characteristics on the average housing price levels but provides information about the long-run relationship between the growth in prices and immigration by using the cross-section [...] The expression in the first parenthesis on the right hand side of (5) is the growth rate of immigration for each CD, where recentimm and pop are the number of immigrants who immigrated in the last five years (between censuses) and the local population from the previous census, respectively. [...] On the other hand, as one of the regional characteristics, the average immigration ratio is a significant explanatory variable, suggesting that the growth rate of prices increases around 0.04 percent in the long run if the share of all immigrants in the total population rises by 1 percent.
Author: Publisher: ISBN: Category : Languages : en Pages : 4
Book Description
This bulletin explores the long-term outlook for housing demand in Canada, the factors shaping that demand, and how the composition of housing demand will change over time. The projections explored have been developed by Canada Mortage & Housing and cover 1986 to 2011. They include a base projection and discussion of the effects on that projection of such factors as immigration, household size, household type, aging of the population, and housing tenure.
Author: Mario Fortin
Author: Mario Fortin
Author: 
Author: Mario Fortin
Author: Canada Mortgage and Housing Corporation
Author: John R. Miron
Author: Canada Mortgage and Housing Corporation![Evolving Housing Conditions in Canada's Census Metropolitan Areas, 1991-2001 [electronic Resource] PDF](https://books.google.com/books/content/images/frontcover/4TX_ygAACAAJ?fife=w80-h100)
Author: Engeland, John
Author: Ms.Evridiki Tsounta
Author: 
Author: