IFE Group has been engaged by a foreign government agency to assess the effectiveness of their housing market analysis framework, which was designed to detect problematic housing conditions for key markets. As a benchmark of its effectiveness and to explore ways to enhance it, we applied the framework to the U.S. national market and select CBSAs. The engagement consisted of baselining the framework, including creating a database with U.S. housing and demographic metrics; establishing a selection criteria to select key U.S. markets and applying the framework to them; leveraging our expertise of the U.S. housing market and conducting market research; reviewing model framework for reasonableness; incorporating additional econometric techniques; reviewing framework governance; and presenting our findings and recommendations.