The Housing Industry and the Canadian Economy

Paper Summary:

This paper examines the relationship between the housing industry and the Canadian economy by looking at how supply and demand effect housing starts, employment and GDP production and growth. It looks at how housing prices vary from region to region across the country and how the housing market plays a crucial role in the Canadian economy.

From the Paper:

"The housing industry in Canada is impacted by fluctuations in the economy and changes in supply and demand. Neoclassical consumer theory is used to demonstrate the relationship between the housing market and the economy. Recent industry and market reports suggest that the Canadian economy is growing at a strong rate and accounting for an increased share of the country's total economic output. Introduction The housing industry is a significant component of the Canadian economy as low mortgage rates and strong growth in employment and personal income have led to an increase in housing demand ("The Canadian Housing" 1)."

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