Could the US’s blue wave bring an end to the Canada trade war?
Economists including BMO Capital Markets director and senior economist Sal Guatieri have flagged how the prolonged tariff dispute is damaging the housing market outlook and consumer confidence.
In September, Guatieri told CMP that the imposition of further tariffs could increase concerns about job security and push Canadians away from making a big investment in housing. “Until we see some clarity and de-escalation of trade tensions, I think the housing market could remain pretty fragile for a while,” he said.
The fall housing market has remained subdued partly because of deteriorating trade relations, according to Royal LePage.
The real estate giant’s president and chief executive officer Phil Soper said last month that while buyers have more negotiating power in a quieter market, other forces are denting their confidence.
“Unfortunately, it’s the economic uncertainty – both related to the trade war and the Iran war – that will likely keep a lot of buyers, especially first-time buyers, on the sidelines,” he said.
