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How The U.S. Election Will Impact Canada’s Housing Market

Posted onJanuary 13/2017By

Donald Trump’s win in the U.S. presidential elections came as a surprise to many; the question is now how a Trump Presidency will impact Canada—particularly in the Canadian housing market. During his campaign, Trump promised to carry out mass deportations of illegal immigrants. Also, many Americans have expressed the desire to move to Canada if Trump were to win the election. How would these two events impact the Canadian housing market? Stagnant Interest Rates If Trump were to carry out his promise of deporting 11 million migrant workers who are (presumably) working illegally in the country, this would definitely hurt businesses. It’s no secret that the U.S. economy benefits substantially from migrant labour, and mass deportations would cause businesses to restrict hiring when the cost of labour goes up. The U.S. Federal Reserve will then try to keep interest rates low, and the Bank of Canada will likely follow suit.…

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