{"id":10122,"date":"2018-08-27T10:10:32","date_gmt":"2018-08-27T17:10:32","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10122"},"modified":"2018-08-27T10:16:04","modified_gmt":"2018-08-27T17:16:04","slug":"canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/","title":{"rendered":"Canada’s Housing Market Continues to Take A Bite Out of Its Global Competitiveness"},"content":{"rendered":"

While Canada\u2019s economy has remained relatively strong over the past year, some economists are worried about its competitiveness on the global stage.<\/p>\n

\u201cWe have long fretted about Canadian competitiveness due to a raft of policy decisions made over the past several years in both Canada and the US that have opened up a large competitiveness wedge to Canada\u2019s disadvantage,\u201d writes RBC global asset management chief economist Eric Lascelles, in a recent note.<\/p>\n

According to Lascelles, while there are several factors to worry about when it comes to the country\u2019s international standing, its potentially volatile housing market is front of mind.<\/p>\n

\u201cCanada\u2019s competitiveness shortfall is still significant and housing risks present another challenge,\u201d he writes. \u201cAs such, we\u2026remain fundamentally cautious.\u201d<\/p>\n

This isn\u2019t the first time Lascelles has questioned the housing market\u2019s effect on Canada\u2019s global competitiveness. Earlier this year, he noted that a housing slowdown could wreak havoc on the country\u2019s economy.<\/p>\n

\u201cThe potential headwind is the possibility of a more intense Canadian housing slowdown,\u201d he wrote. \u201cThe risk would seem to be elevated given the rapid rise of household debt in Canada in recent years and poor affordability.\u201d<\/p>\n

Lascelles noted that the introduction of a foreign-buyer tax in the GTA, a new mortgage stress test and a rising interest rate environment have taken some of the air out of the once hot market. While that\u2019s good for the country\u2019s financial security, it\u2019s not great news for its economy, at least in the short term.<\/p>\n

\u201cAttempting to predict the exact outcome [of where the housing market is headed] is folly,\u201d he wrote. \u201cBut at a minimum it seems unlikely that housing will be able to continue driving growth artificially higher over the next decade in the way that it did over the past 10 years.\u201d<\/p>\n

Canada’s Housing Market Continues to Take A Bite Out of Its Global Competitiveness<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"

While Canada\u2019s economy has remained relatively strong over the past year, some economists are worried about its competitiveness on the global stage. \u201cWe have long fretted about Canadian competitiveness due … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10122","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nCanada's Housing Market Continues to Take A Bite Out of Its Global Competitiveness • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canada's Housing Market Continues to Take A Bite Out of Its Global Competitiveness • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"While Canada\u2019s economy has remained relatively strong over the past year, some economists are worried about its competitiveness on the global stage. \u201cWe have long fretted about Canadian competitiveness due … [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Canada’s Housing Market Continues to Take A Bite Out of Its Global Competitiveness\",\"datePublished\":\"2018-08-27T17:10:32+00:00\",\"dateModified\":\"2018-08-27T17:16:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/\"},\"wordCount\":337,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/\",\"name\":\"Canada's Housing Market Continues to Take A Bite Out of Its Global Competitiveness • Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2018-08-27T17:10:32+00:00\",\"dateModified\":\"2018-08-27T17:16:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canada’s Housing Market Continues to Take A Bite Out of Its Global Competitiveness\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling & Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Canada's Housing Market Continues to Take A Bite Out of Its Global Competitiveness • Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/","twitter_card":"summary_large_image","twitter_title":"Canada's Housing Market Continues to Take A Bite Out of Its Global Competitiveness • Rory C Real Estate | Oakwyn Realty","twitter_description":"While Canada\u2019s economy has remained relatively strong over the past year, some economists are worried about its competitiveness on the global stage. \u201cWe have long fretted about Canadian competitiveness due … [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Canada’s Housing Market Continues to Take A Bite Out of Its Global Competitiveness","datePublished":"2018-08-27T17:10:32+00:00","dateModified":"2018-08-27T17:16:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/"},"wordCount":337,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/","name":"Canada's Housing Market Continues to Take A Bite Out of Its Global Competitiveness • Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2018-08-27T17:10:32+00:00","dateModified":"2018-08-27T17:16:04+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/canadas-housing-market-continues-to-take-a-bite-out-of-its-global-competitiveness\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Canada’s Housing Market Continues to Take A Bite Out of Its Global Competitiveness"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling & Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=10122"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10122\/revisions"}],"predecessor-version":[{"id":10123,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10122\/revisions\/10123"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=10122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=10122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=10122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}