The effects of the economy on rental property in 2023

One topic that has been worrying CORPIQ members since the beginning of the year is certainly the overall issues and effects of the economy on housing and rental property owners.

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It is no secret that we are on the verge of a recession and an economic slowdown that will affect the general population. Inflation is at its highest levels in forty years, governments are experiencing deficit periods, and their consequent reaction through successive increases in the Bank of Canada's key interest rate.

The impact on homeowners is certainly being felt. First of all, housing starts are down since the beginning of the year. But also, the variable mortgage rates that affect nearly 60% of our members and the sale prices of properties that are stabilizing or experiencing a decline.

In short, in an economic situation that is not so easy to manage, there is uncertainty in the air. CORPIQ would like to take this opportunity to invite its members to the IMMO 2022 event, which will be held this November 23 at the Bonaventure Hotel. Experts and economists will discuss the issues and encourage us to think about how to weather this storm.