Things are Going to Be Tough for Canada’s Economy: An Interview with Robert Kavcic

In today’s episode, we take a look at Canada’s economy to get some insight into how the broader macroeconomic trends might impact Canada’s housing market in the months ahead.

We’ll discuss how Canada’s booming population is masking what is really happening in Canada’s economy, why the Bank of Canada may not cut rates even if we are in a recession and how high interest rates might impact Canada’s housing market in the months and years ahead.

My guest today is going to help us unpack all of these latest economic trends. Robert Kavcic is Senior Economist and Director Economics at Bank of Montreal and specializes in analyzing real estate trends.

0:00 Introduction
2:00 A quick look at Canada's economy
3:20 Why GDP per capita matters for Canada
6:40 How is US economy doing?
8:14 How the US economy impacts Canada
11:07 Is the BOC done raising rates?
14:45 Risks with upcoming mortgage renewals
17:43 Mixed trends in Canada's housing market
22:01 What is a recession exactly?
23:56 Will Canada enter a recession?
25:05 Will rates fall if we enter a recession?
27:55 Stagflation risks?
30:58 Will fixed rates fall before the BOC cuts?
32:52 What is the outlook for housing in 2024
36:15 How will the population boom impact housing
39:00 How will high rates impact rentals

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Email John at: [email protected]

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About This Show

The Move Smartly channel and show is hosted by Urmi Desai, Move Smartly editor, and John Pasalis, Broker and President of Realosophy Realty. MoveSmartly.com and media channels are powered by Realosophy Realty in Toronto, Canada.

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Feedback or Questions? Connect with Us:

Urmi Desai, Editor, Move Smartly | Email: [email protected] | X-Twitter: @MoveSmartly

John Pasalis, President and Broker, Realosophy Realty, Toronto | Email: [email protected] | X-Twitter: @JohnPasalis