the rennie landscape - Q3 2019

the rennie landscape pocket guide Q3 2019

rates THE INVERTED YIELD CURVE DOES NOT MEAN A RECESSION IS LOOMING, though it does reflect the complex network of risks that currently face the global economy. With the path of future global economic growth uncertain, interest rates continue to fall, providing an opportunity for would-be home buyers in this market to qualify and lock in at rates not seen in two years. economy METRO VANCOUVER’S LABOUR MARKET IS THE STRONGEST IN CANADA, with a near-historically-low unemployment rate due in part to rapid employment gains and wages growing at twice the rate of local inflation. With workers benefitting from the ongoing demand for talent, aggregate household purchasing power is rising throughout the region. The following is a summary of key insights associated with the Q 3 2019 edition of the rennie landscape, which tracks and analyzes a range of factors influencing Metro Vancouver’s housing market. After 18 months of sliding sales, increasing inventory, and placid prices, the trajectory of Metro Vancouver’s housing market is poised to change. A recent re-emergence of previously sidelined demand has coincided with some of the fastest employment growth and wage growth in Canada, with the unemployment rate being driven to a near-historical low. These factors, combined with continued population growth in Metro Vancouver and an interest rate environment that has gone frommarket headwind to definitive tailwind over the past 10 months, bode well for the region’s pre-sale and resale markets.

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