Unemployment, drop in resale values, massive GDP loss. Let’s face it. The recession hit us hard – in this infographic we explore the impact it made on the housing market.
A tough time for the Canadian economy, the recession of 2008/2009 affected just about every industry and made a huge impact on the housing market. The nine month long ordeal saw 400,000 Canadians lose their jobs and the nation’s GDP drop by 3.3%. The below infographic is the first of a four part series that is intended to educate you on the drivers of the recession and bring to life some indicators that help explain why Canadian house prices increased since 2008/2009 and provide an outlook for the future.
Remember, though historical events can teach us a great deal, individual experiences and environmental factors can also change future results. You should always consider your individual risk tolerance when planning for the future.
Zoocasa is an award-winning prop-tech company and wholly owned subsidiary of eXp Realty Inc. LLC. Zoocasa uses data and technology to deliver an intelligent, end-to-end real estate experience.
Zoocasa’s insights and suite of digital tools, combined with the market expertise of its dedicated agents and team allows Zoocasa to set a new standard for full-service real estate. A 4-time winner of both the Financial Times' Fastest Growing Companies in the Americas and the Top Growing Companies in Canada by the Globe and Mail, Zoocasa continues to innovate on the home buying, selling and search experience online.