Daily Commercial News
On this episode of The Construction Record Podcast™, digital media editor Warren Frey speaks with ConstructConnect chief economist Alex Carrick and senior economist Michael Guckes in part two of a two-part series looking at current challenges in the financial markets affecting not only construction but the wider economy as well as the unpredictable nature of federal politics both north and south of the border.
Michael elaborated on current data which shows continued hesitancy towards investment in real estate due to high interest rates and continued fallout from the COVID-19 pandemic and cautioned that even if the Federal Reserve lowers rates, current conditions take time to change. Alex pointed to real estate as still being a point of instability and spoke about how the borrowing rate at the consumer level post-pandemic in Canada is alarmingly high.
As a federal election in the United States is due in November, Michael reflected on how economic policy could change depending on which party takes the White House, and Alex and Warren discussed how no matter who wins in November, Canada must set its policy to adapt to changing political circumstances in the United States.
You can listen to the first part of our economic risks series here and our podcasts from World of Concrete are also available including a preview episode, a look at robotics and construction and an episode about women in construction and the potential of 3d printing with concrete. Other episodes are available at the Daily Commercial News and Journal of Commerce websites as well as on Apple Podcasts, Spotify and Amazon Music’s podcast section. Thanks for listening.