August, 2020

Canada’s Drop In GDP Made The Economy Even More Dependent On Real Estate

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Canada’s real estate industry has seen a smaller impact than the general economy during the pandemic.

Residential investment is residential real estate’s direct contribution to the economy.

It includes the construction of new houses, major renovation, and ownership transfers.

Drops in residential investment are considered red flags for the economy.

Residential investment as a percent of GDP in Q2 increased to 7.48% This is up from 7.25% last year.

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Wednesday August 26, 2020 Kitchener Waterloo Real Estate News

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In the world of real estate, we always talk about average this and that. We talk about the market as a whole (which is doing very well in every Canadian market). Link. But in most major markets, rental rates are down and the number of condos listed for sale last month are up. The entry level market is hot, but the number of families moving into the region is a little flat.

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