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Correlations between macro-indicators
| Price-to-GDP ratio | Per capita GDP | Maximum loan-to-value | Homeownership rate | Homeownership growth | Price-to-income ratio | |
|---|---|---|---|---|---|---|
| Price-to-GDP ratio | 1 | |||||
| Per capita GDP | 0.13 | 1 | ||||
| Maximum loan-to-value | 0.16 | −0.09 | 1 | |||
| Homeownership rate | −0.29 | −0.41 | −0.04 | 1 | ||
| Homeownership growth | −0.28 | 0.10 | 0.33 | 0.06 | 1 | |
| Price-to-income ratioa | 0.46 | 0.27 | −0.18 | −0.38 | −0.03 | 1 |
aPrice-to-income ratio has only been used in sensitivity analysis
