the rennie landscape KEY INSIGHTS - SPRING 2022
rates INTEREST RATES AND INFLATION ARE HIGHER AND RISING, though fears of their future path are likely overblown. The Bank of Canada will raise its overnight rate and divest itself of Government of Canada bond holdings, pushing up longer-term yields. Inflation rooted in supply chain disruptions will largely resolve this year, with higher interest rates also playing a role in taming price increases. economy METRO VANCOUVER’S LABOUR MARKET IS BACK, with the regional unemployment rate now below 5% and honing in on its pre-pandemic level. The number of unemployed persons remains elevated compared to two years ago, but it’s shrinking, creating added pressure for employers as they try to lessen the record-high job vacancy rate. This pocket guide presents a summary of key insights associated with the Spring 2022 edition of the rennie landscape, a report focussed on unpacking the myriad factors directly and indirectly influencing Metro Vancouver’s housing market. As always, there are a lot of moving parts toMetro Vancouver’s economy and housing market. Some of the storylines remain the same as in past editions of this report—our labour market continues to tighten, employers are struggling to find talent, debt is accumulating, and home prices are rising—but new ones are emerging, such as stubbornly-high inflation, rising interest rates, and the resilience of office-based jobs. Below is a summary of the highlights from this edition of the rennie landscape.
46
rennie.com
Made with FlippingBook - professional solution for displaying marketing and sales documents online