The US election has created a wave of economic optimism south of the border and it appears to have spread to Canada. Bloomberg/Nanos Canadian Confidence Index is trending higher and the measure of confidence in real estate has rebounded from recent decline.
“Signals from President-elect Trump and the formation of his administration seem to be having a coincidentally positive impact on confidence in Canada’s energy rich Prairie provinces,” said Nanos Research Group Chairman Nik Nanos.
A positive impact on oil prices – helped by recent output caps – and efforts to stabilize the housing market, are also positive influences.
An almost across-the-board jump in confidence in personal finances and job security over the last month is leading the charge, while changes in expectations appear to be dependent on household income and home ownership”, said Bloomberg economist Robert Lawrie.
Despite the confidence, the proportion of those who expect real estate prices to be higher in 6 months slipped in the week ending Dec. 16 to 36.7 per cent from 37.37 per cent a week earlier.
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