RBC Survey: Canadians Feel National Outlook Will Improve
Tags: canadians, consumer confidence, consumers, financial meltdown, housing market, low interest rates, national economy, national outlook, rbc, real estate market, recession, royal bank of canada, sentiment
New research by the Royal Bank of Canada (RBC) suggests that recession weary Canadians are divided on the future of the country’s economy; however there is much more hope for the year ahead.
According to the data, 60% of people across Canada feel that the national economy will improve in 2010 after 2009 being spent in a recessionary hangover from the global financial meltdown of 2008.
With that said, we can expect to see consumer confidence also improve.
If consumer confidence improves, then the sentiment on making major purchases should also improve as well.
With the sentiment of major purchases improving, we have consumers feeling more confident in making large purchases such as homes. With more homes being purchased, we can expect to see the real estate market keep up its current trend, and surpass the previous year’s results, especially since around this time last year we were still in a recession.
With time we will be seeing Canada’s economy improve, and as it improves so will the housing market. Given this information, once can expect to see better conditions for both buying and selling, however as low interest rates will not last forever, the time might be now to purchase a home if you want to take advantage of it.
Glen Chapman
Broker of Record with Club “100″ GMAC Real Estate
www.club100realestate.com
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