Porter Reports on Canadian Economic Resilience Amid US Housing Trends

In a recent report, Porter analyzed Canadian economic trends, noting the influence of the US housing crisis, which saw a 26-per-cent plunge in national home prices between 2006 and 2012. Since Canadian home prices began falling four years ago, real gross domestic product has grown at a 1.7 per cent annualized pace, which is below the century average of 2 per cent.

Porter noted that Canada's high stock of wealth, which has more than doubled as a percentage of income since 1990, helps act as a buffer against economic shocks and smooths spending cycles. Additionally, an aging population, with 20 per cent of Canadians over 65, contributes to stable and predictable consumption.