This report examines the short-and medium-term economic and profitability outlook for Canada’s Residential Construction Industry.
Canada’s Residential Construction Industry: Industrial Outlook Summer 2014
Canada’s Residential Construction Industry: Industrial Outlook Summer 2014
Industry Economic Analysis
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- Mortgage Rates—After rising at the end of last year, mortgage rates have dropped to rock-bottom levels this year. Low rates are providing incentive for buyers, enough to keep the housing market strong for one more year.
- Consumer Debt—While the overall fiscal situation of households has improved, it continues to be a key risk to the forecast, as debt levels are still high and income gains are modest.
- Affordability—Despite the slower increases in home prices over the last few years, housing affordability has begun to deteriorate. Weak income gains and rising mortgage rates will continue to weaken affordability in coming years.
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