In the latest edition of their Canadian Confidence Index, Bloomberg and Nanos Research found that optimism in the national real estate market has surged ahead of winter.
For the week ending November 17, the barometer of Canadian consumer confidence posted an overall uptick in confidence to 59.46, up from the previous week’s 58.83.
This remained safely above the 2017 average of 58.41, although falling short of the record-breaking 61.19 in August.
“Over the past four weeks positive views on the future value of real estate and the economy have increased,” Nanos Research Group Chairman Nik Nanos said.
The job security and personal finances (including mortgages) subindex went down slightly, while the measure of optimism in real estate and the overall economy gained.
“While the latest survey appears to confirm building confidence in the economy and real estate values, there is a perhaps more tentative outlook regarding perceptions of job security and personal finances – factors that can affect future household spending,” according to Bloomberg economist Robert Lawrie.
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The same poll showed that discontent with Prime Minister Justin Trudeau’s handling of the economy is most acute in the prairies, of which Alberta – the heart of Canada’s oil sector and its conservative movement – is the biggest part.
The sense of alienation in the said region is “typical of what we’ve seen in Europe and the U.S., where a lot of it is first driven by the economy when it’s down, and then they start looking at things that make it harder to improve,” explained Jack Mintz, a professor and Palmer chair in public policy at the University of Calgary.
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