US-Canada trade war: How much will it impact homebuyers?
Trade uncertainty inevitably shakes some buyer confidence, according to Toronto-based broker Micky Khaneka (pictured top) of Team MKG.
“I think that’s the unfortunate part about it,” he told Canadian Mortgage Professional. “Just when we think people are ready to get settled in and they’re a little bit more comfortable with these big once-in-a-lifetime decisions and they’re coming off the sidelines… something like that just makes them stop dead in their tracks, take a step back and really evaluate: is this something that’s going to have a direct impact to them?”
That might push some buyers back toward the sidelines, but Khaneka doesn’t see a huge immediate cooldown in purchase activity despite the latest threat to the Canadian economy.
Are homebuyers now accustomed to trade chaos?
The prospect of a US trade war on Canada arrived like a bombshell early last year, dominating headlines and fuelling fears of mass job losses from tariff-related shock.
That doomsday scenario has so far failed to materialize, and Khaneka said buyers have slowly come to terms with the reality of trade tensions – with some buyers’ confidence likely to continue improving even in the face of the latest escalation.
