The housing market had seen some optimism, according to ‘pre-tariff’ surveys. However, while the Bank of Canada rate cuts helped support this cautious positive position, the looming trade war threatened by the US like the sword of Damocles hanging over the Canadian economy is likely to undercut this optimism as concerns about unemployment and a potential recession increase.

This week's issue focuses on potential homebuyers, looking at buying intentions and the myriad of obstacles in their path. There is a discussion of the potential impact of tariffs, which have been kicked down the road but the issue is not resolved.

The issue also looks at efforts potential homebuyers are making to overcome these hurdles. Investing in FHSAs are reviewed as well as potential homebuyers' perspectives about mortgage rates and rule changes.

No discussion of the Canadian homebuying market is complete without a look at affordability challenges. There is some suggestion that affordability is improving, but modestly and it remains a significant issue.

Some suggestions are provided to help credit union members rattled by this economic uncertainty.

For more, please read this week’s issue of Competitive Intelligence (CI) Update. 

Email research@ccua.com to learn more and sign up.