Canadian Real Estate Is Driving A Fifth Of All GDP Growth
Real estate played a huge roll in driving GDP growth over the past year. December's numbers show a $55.96 billion increase from the year before. Breaking that number down, $10.73 billion of the increase was related to the 'FIRE'' segment FINANCE INSURANCE AND REAL ESTATE.This means FIRE represented 19.18% of growth. StatsCan analysts noted the mortgage stress tests, but the ratio is actually lower than it has been recently. So we're not seeing a large spike due to people squeezing in before stress testing became mandatory.
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