the rennie landscape - Spring 2023
Apr 05, 2023
Written by
Ryan BerlinSHARE THIS
We are pleased to present our Spring 2023 edition of the rennie landscape.
It’s striking just how much of the past year has been defined by a single issue: inflation. Today, too-high inflation remains outside of the Bank of Canada's target range despite the central bank's forceful response to it vis-a-vis raising interest rates, which has required borrowers, savers, and spenders to adjust their behaviours on the fly.
As we progress through 2023, we're all wondering if the Bank of Canada is finished raising interest rates. If it is, how long will rates stay elevated? If it isn't, how many more hikes can we expect (and tolerate)? From there, what does it mean for our housing market in terms of sales, listings, and prices?Twice a year, rennie intelligence produces the rennie landscape, which 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 of 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.
Written by
Related
In this edition of the rennie landscape—which we've tailored to Central Okanagan—we explore elements of economic and demographic change, along with many others, to help shed light on how and why our housing markets are evolving the way that they are—and what could lie ahead.
Oct 2024
Report
In last week’s installment of “how much will they cut”, we noted that the September jobs data from Statistics Canada was unlikely to compel the Bank of Canada to move beyond a 25-basis-point cut. We also noted that the September Consumer Price Index (CPI) data would give us a clearer picture of the path going forward—and indeed it has.
Oct 2024
Article
3 min read