@article{Segmentation:1399,
      recid = {1399},
      author = {Allen, Jason and Amano, Robert and Byrne, David and  Gregory, Allan},
      title = {Canadian City Housing Prices and Urban Market  Segmentation},
      publisher = {Bank of Canada},
      address = {2006},
      pages = {1 online resource (v, 21 pages)},
      abstract = {The authors provide a detailed empirical analysis of  Canadian city housing prices. They examine the long-run  relationship between city house prices in Canada from 1981  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, new-housing prices, and the issuance of  building permits tend to be positively related to city  existing-house prices. Surprisingly, there is mixed  evidence with respect to standard measures of economic  activity, such as labour force and per capita GDP.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/1399},
      doi = {https://doi.org/10.34989/swp-2006-49},
}