I am trying to compare the volatility of housing markets over time across different countries. I want to be able to determine whether for instance average annual house prices are more volatile in the UK or in the US. Which measure would you suggest would best suit this purpose? I have seen other discussions here on volatility of financial markets, but not sure whether the same answers would apply to measuring volatility of housing market over the long term. Many thanks in advance!
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For each of the m countries, one could predict the next k years and compute the uncertainty in those k predictions. Compute the relative "volatility" by converting the forecast standard deviation ( or range) by the expected value ... thus a coefficient of variation for each k and for each country.
Now compare these cv's for each forecast period to assess similarity/differences among the m countries.
