30 January 2019

“Spin-off activity includes general household purchases, furniture, housing appliances, moving costs, renovations, and professional services (financial, real estate, legal, etc.). The latter accounts for almost a half of the spin-off dollar value,” – Better Dwelling says.

This month, BMO senior economist Sal Guatieri warned that an excessive share of the real estate sector in the national economy (about 76% of the $11.415 trillion national wealth in the third quarter of 2018) could become a key problem in case of a significant house prices correction, with the current wealth effect on spending.