the rennie landscape - Fall 2021
Oct 14, 2021
Written byRyan Berlin
Much has changed since we last published a rennie landscape back in the spring, and we dare say most of it is for the better. Across Canada among eligible people, more than 80% are fully vaccinated--one of the highest such rates in the world--putting us in a position to realistically consider what our world will look like as we emerge from the pandemic.
And emerging we are. More and more people are working (if not as much as they would like just yet), monetary and fiscal policies are becoming less expansionary, and business confidence is high.
For those of us here in British Columbia, our labour market has been benefiting from demographic tailwinds blowing in from other parts of the country, and there are signs that international migration is beginning to return to typical levels. Things are looking up. Twice a year, rennie intelligence produces the rennie landscape, that tracks a variety of demographic and economic indicators that directly and indirectly influence our housing market here in Metro Vancouver. Our goal is to provide our community with a basis for evaluating the trajectory of the factors that collectively define the context for the real estate market.Our rennie intelligence team comprises our in-house demographer, senior economist, and market analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie.
This week, the Bureau of Labor Statistics released its latest reading of the Consumer Price Index (CPI) and, with it, the prospect of a near-term rate cut took another hit.
At the start of every year we wait with baited breath for the annual CMHC rental market report, released in late January and pegged to the prior October, for an update on rental markets across Canada.