How has Commercial Real Estate Performed in the First Half of 2019, and What to Expect in the Second Half and Beyond:
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- The trade war between China and the United States is slowing the global economy, creating global uncertainty, and impacting Canada directly in regards to trade with China.
- With the Canadian dollar on the rise, Canadian exports, including oil, will be under pressure. Ultimately, this will impact economic growth later this year.
- Although the Trans Mountain Pipeline has now been approved, it will take time to complete construction and to ultimately benefit the oil sector in Alberta. Until then, they will have to make do with efficiencies being achieved on existing pipelines.
- Interest rates and debt servicing costs are no longer on the rise, however, high debt will numb the impact of any Bank of Canada rate cut later this year as they try to get Canadian consumers to spend in order to keep the economy from slowing.