A recession is not expected in Canada this year despite a number of global uncertainties and trade tensions, according to a top Scotiabank economist, but growth will likely remain unexceptional.
The housing market is expected to “remain fairly robust” this year, according to Scotiabank’s House, with Toronto experiencing one of the lowest supply-to-population ratios for housing in 20 years.
“There’s a lot of support to keep the housing market solid in both cities. And you’re seeing that spill over into smaller towns around them and into other cities like Montreal and Ottawa.”
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