the rennie landscape - Spring 2022

the rennie landscape - Spring 2022

rennie landscape spring 2022

Dear Reader, Welcome to the Spring 2022 edition of the rennie landscape. In the opening letter of the previous edition of this report, we said we were looking forward to feeling genuinely positive about where we would be in our 2-year pandemic odyssey when it came time to pen this edition. And you know what? We do feel positive. While Covid-19 is not entirely a thing of the past, we’re coping— dare we say almost thriving—with many pandemic restrictions being lifted and the cadence of our lives and the economy returning to what we were accustomed to prior to March 2020. People have returned to work, if not completely back to the office on a full-time basis. Employers feel positive about business conditions and want to hire (though it’s a challenge), portending robust economic growth to come. A combination of how we have managed the pandemic here in British Columbia, combined with the lifestyle opportunities that exist and the resilience of our economy, have together conspired to attract people from far and wide to our province and its regions. The foundation for a fruitful future has been laid. Challenges exist to be sure. Housing is more expensive than ever, and there are more economic headwinds (rising interest rates, inflation, and growing debt) and heightened geopolitical uncertainty than 6 months ago. But on balance, each of Canada, British Columbia, and Metro Vancouver is poised for a period of continued prosperity that together we must ensure is shared by everyone. We hope you enjoy this latest edition of the rennie landscape.

Ryan Berlin DIRECTOR OF INTELLIGENCE & SENIOR ECONOMIST [email protected]

rennie.com

1

2

rennie.com

contents

04

ECONOMY

16

RATES

24

CREDIT & DEBT

30

DEMOGRAPHICS

36

HOUSING

44

POLICY

46

KEY INSIGHTS

48

GET THE >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52

Made with FlippingBook - professional solution for displaying marketing and sales documents online