Canada: Selected Issues Paper

December 22, 2011

Preview Citation

Format: Chicago

Canada: Selected Issues Paper, (USA: International Monetary Fund, 2011) accessed November 26, 2024

Summary

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.

Subject: Balance of payments, Banking, Financial institutions, Foreign direct investment, Housing, Housing prices, Mortgages, National accounts, Prices, Public debt, Stocks

Keywords: Canada, Central America, CMHC-insured mortgage, CR, Europe, Financial asset, Foreign direct investment, Global, Gross debt, House price, Housing, Housing prices, ISCR, Mortgage, Mortgages, Net debt, Statistics Canada, Stocks

Publication Details

Pages:

45
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/365
Stock No:

1CANEA2011002
ISBN:

9781463929237
ISSN:

1934-7685

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