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

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.