CANADIANS PUL;LING IN THE REINS WHEN IT COMES TO SPENDING!
Wednesday Oct 26th, 2022
Canadians are ,pausing under recent economic pressures, opting to delay making real estate transactions or major purchases due to the interest rate increases seen this year.
According to a survey conducted by software company Dye & Durham, 33% of Canadians have chosen to delay making a real estate transaction or major purchase, with 9% saying they’ve delayed buying a house this year and 10% expecting to delay their home purchase in the next year. Seventeen per cent (17%) also said they don’t expect their home to reach the same value it did prior to the interest rate increases of 2022.
The survey revealed that 53% of respondents believe Canada is about to enter a recession, while 30% think the country is in recession. As a result of recession fears and concerns about the strength of the economy, 57% said they are planning to spend less this holiday season compared to last year. # SANDI HALPERN # REAL ESTATE # SOLD # LEASED # RECESSION