The Fraser Institute report warns that with interest rates expected to increase, Toronto’s housing sector could collapse, leading to serious economic disruption. Ontario, once the industrial powerhouse of Canada, has become precariously reliant on its booming housing market to fuel economic growth, warns a new report. To show how Ontario’s manufacturing sector has slipped, the Fraser Institute report compares Ontario to Quebec, whose economy was historically weaker. Quebec now has a lower unemployment rate than Ontario, higher growth in GDP per capita, and more resilience in such sectors as lumber, paper, primary metals smelting and even installation of data centres.…

Oct 13, 2017 / by admin / No Comments