Video interview on BNN interview with
David Madani
Capital Economics
Looking at the composition of residential investment. . . a substantial run-up in renovation investment . . .
Renovation was 2.8% of GDP down to 2.7% This is a long way above where we were, which was at 1.5% of GDP. We see this as a symptom of a larger bubble in Canada.
. . .
Q: would you consider what you are describing as a temporary lull . . .?
A: for a number of years the canadian housing market will be in a persistent slump.
No comments:
Post a Comment