Fat Lady Tunes Up

RBC’s current provincial outlook suggests the B.C’s near term growth will be around 2.5% in ’08 and 3.0% in 09.

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Looks like a Downgrade

Those who operate with a cup half-full will be smiling and saying “I told you so” as the indicators for the long term are swinging in their direction.

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The Rationale

  • capital spending will peak in a few years
  • exports are are taking a hit
  • pine beetles are still munching

RBC says “public spending peaked last year.” In the near future it won’t have the same impact as it is leveling and won’t have as much positive influence on growth. Concern is that this will increase the effects on currently slowing trends in forestry and energy.

Lingering Question

Can Real Estate prices in Vancouver be far behind? Some pundits are suggesting the lady will start singing as early as this summer.

RBC’s view of Saskatchewan might apply to Vancouver where “strained housing affordability has pushed into record territory”.

The full report is available here. RBC Provincial Outlook

p>Report and Logo Courtesy of Royal Bank of Canada

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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