Although Governor MacLem said the uncertainties of the war required a “careful” approach, any caution would be tested if inflation rises above a three-decade high.
The war has further disrupted global supply chains and sent prices of many commodities to multi-year highs, including oil and wheat at 13-year highs, and aluminum at all-time highs, Guatieri he said.
If the crisis continues, with more depressing confidence and financial conditions, the impact on the economy could be outweighed by inflation concerns, slowing the rate of hardening. However, Gutierri predicted a repeat of pre-conflict crises that only served to bolster the market, such as the 2014 oil price collapse and the 2020 pandemic, which resulted in the 2016 and current frenzy. Promotional rates cut.
The housing market will not see any frenzy due to the war, Guatiri said. He pointed out that in January, benchmark prices set new highs (before 2005) on both an annual and monthly basis, and based on the latest city data, prices rose again in February.
In February, benchmark prices in Vancouver rose 20.7 percent year over year and more than 3% seasonally adjusted, with sales up 27 percent from the decade average. Still, that’s nothing compared to Toronto, where prices are up 35.9% year over year and an estimated 4.5% seasonally adjusted.
