Real estate is the key driver of consumer confidence according to the latest data from Bloomberg and Nanos Research.
The Canadian Consumer Confidence Index edged higher again for the week ending June 10th
and Nanos Research chairman Nik Nanos says home prices are boosting sentiment:
“Perceptions related to the value of real estate continue to be a key driver of positive consumer sentiment in Canada with positive sentiment noticeably above the 2016 average.”
Positive responses were up for the economy overall and for personal finances, which includes mortgages; but down slightly for job security and real estate prices, with fewer people believing prices will be higher in 6 months.
Despite that, the confidence of homeowners increased in the index while renters’ confidence slipped.
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