Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime …-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household …

Assets in tax-deferred retirement accounts (TDA) and housing are two major components of household portfolios. In this … paper, we develop a life-cycle model to examine the interaction between households' use of TDA and their housing decisions … earlier in their lives. On the other hand, housing-related policies, such as a minimum down payment requirement and mortgage …

household indebtedness and housing price fluctuations compared with a monetary policy rule augmented with house price inflation … houses and we introduce news shocks on housing demand. We estimate the model with Canadian data using Bayesian methods. We … find that the introduction of news shocks can generate a housing market boom-bust cycle, the bust following unrealized …

In this paper, we estimate the effect on housing prices of the expansion of the Vancouver SkyTrain rapid transit … expansion increases housing prices not only in neighborhoods where the expansion occurred, but also in those with access to pre …-existing segments of the network. We show how these network housing price effects depend on household commuting patterns, and discuss …

Shocks to the demand for housing that originate in one region may seem important only for that regional housing market …. We provide evidence that such shocks can also affect housing markets in other regions. Our analysis focuses on the … response of Canadian housing markets to oil price shocks. Oil price shocks constitute an important source of exogenous regional …