Owned accommodation in the Canadian Consumer Price Index : a comparative analysis of measurement approaches, including an exploration of asking-rent rental equivalence / by Ishtpreet Kaur, Sicong Ma, Patrick... : CS62-0014/2026-4E-PDF

"In the context of the Consumer Price Index (CPI), owned accommodation (OA) refers to the cost of owning a home and how this cost changes over time. The measurement of OA in the CPI is an area of ongoing debate, with no current consensus on a preferred method as each has its own advantages and disadvantages. This paper builds on previous work by extending the analysis of alternative approaches to measuring OA, with a particular focus on rental equivalence (RE). A key motivation is that the official rent index—commonly used as a proxy for RE—is primarily driven by the primary (purpose-built) rental market, which consists of privately developed structures intended for long-term rental supply. As a result, it may not fully capture dynamics in the secondary rental market, where a significant share of rental activity occurs. To address this gap, the analysis explores alternative treatments of OA in the Canadian context, including exploratory RE measures based on asking rents from online listings. This allows us to assess how housing inflation may have evolved over the past20 years under different methodologies. The inclusion of asking-rent–based RE aims to better capture dynamics in the secondary rental market and provide more timely insights into how rent movements affect OA and overall inflation indicators. …"--Executive summary, page 5.

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