Good ol' CBC. It's almost like a news source compared to US entertainment organs disguised as information sites. Looks like the economy is toileting harder than 2009, at peak crisis.
Why? Money quote:
Economists at the bank expect real consumption growth — which is calculated once the impact of inflation is stripped out — to hit 1.3 per cent in 2019, which would be the lowest since 2009 when it fell to 0.2 per cent amid the global financial crisis.
A combination of a softening housing market resulting in Canadians feeling less wealthy, pressure from higher interest rates and a low household savings rate will result in consumers spending less, according to National Bank.
'Part of the loss of momentum can be attributed to a softening housing market, which is not only restraining resales and home prices, but also hurting consumption spending via fading housing wealth effects' Krishen Rangasamy, senior economist at National Bank, says in the report.
And for the poor Puds holding Vancouver Real Estate as a magic It-Never-Goes-Down investment, Vancouver home sales fall nearly 40% in January as prices pull back
Keep in mind that this figure is from the Real Estate Board of Greater Vancouver, so it's the most colored, most optimistic, lying spin they can put on it, as they don't release actual data, just their analysis on it, and leave things out like enormous price-drops in current listings to make things seem more rosey for the RE Johns lining up for a sweet, sweet hit of that can't-live-anywhere-else crackshack.
West Coast Mooseknuckles are in for a shit-tornado, boys.