Slower home buying helping boost spending elsewhere: RBC's McKay
AI Article Summary
The slowdown in home buying has allowed consumers more financial flexibility to contribute to other economic areas, according to the CEO of RBC. This shift in spending patterns has broader implications for the economy, enabling growth beyond the housing sector. The change suggests an adaptation as consumers react to market conditions.
What This Means for Canadian Contractors
For Canadian builders, this means adjusting strategies as the focus of consumer spending broadens beyond residential real estate. This shift in spending patterns may alter the demand for residential construction projects and lead to more opportunities in commercial and infrastructure sectors. Contractors may need to reassess their portfolios and consider diversifying their project types to capture new market trends.
