Real Estate Sector Contributing Towards Canada’s Economy

BMO Capital Markets has highlighted in their report that the impact of the real estate industry in Canada is positively influencing the country’s wider economy.

As there happens to be a slip back in the energy sector, the residential construction went up record levels as a portion of the GDP, meaning that the country’s GDP makes up 7.7 percent of the construction of houses in Canada, which is being accounted for by the housing construction.

The report showed that the prices have indeed contributed and played a huge role of recent with the prices of construction going up, while the prices of oil, on the other hand, has gone down. With that being said, the levels of GDP in the country’s housing sector is likened to that of the 2007 levels in real terms.