Quote:
Originally Posted by Build.It
That GDP per capita data in the chart above seems to support my personal experience. Recession was mid 2023 to early 2024 and we are now exiting it.
Business was slow in late 2023 and is booming now. Numerous others I know in the construction industry have experienced the same thing.
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I can echo this on the construction front - in my area, this seems to have correlated with when the federal government juiced construction loans for rental housing in late 2023. Housing construction loans for rental projects are now 50-year amortization periods with 10-year terms, with no CMHC loan insurance costs (despite being backed by the CMHC) and no payments to the principal during construction. I suspect that this is also freeing up more capital for non-rental construction too.
There are still lots of notes of recession across other aspects of the economy (consumer spending slowdown, high unemployment, etc) which I don’t think will go away for a very long time.
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