November 2020
Residential Construction Industry Outlook
How Changes in the Economy Affect Small and Medium-Sized Homebuilders
The state of the homebuilding industry signals trends in consumer spending, labour, and banking, and indicates much about the pace of economic recovery.
Discover five economic drivers to watch:
Uncertainty–Market volatility may cause Canadians to halt spending on homes.
Immigration–Closed borders could slow workforce growth and trigger a lag in homebuilding years from now.
Employment–1.3 million Canadians have lost and not recovered their jobs.
Income–An anticipated 7.1% year-over-year wage drop means less spending money for Canadians.
Mortgage rates–Record low mortgage rates are countered by new rules on high-ratio mortgages.
