Demographics, Crisis Aftermath Pose Limits to Growth

Halifax, Nova Scotia—Demographic forces and the hangover from the global financial crisis together are putting limits on economic growth, Bank of Canada Governor Stephen S. Poloz said today in Halifax.
“A period of subdued growth after a financial crisis can still be regarded as cyclical, in the sense that it will eventually prove to be temporary,” Governor Poloz told members of the Halifax Chamber of Commerce. “But the global economy may not be just suffering through a hangover from the financial crisis. There are other, longer-term forces at work as well.”
In his speech, Governor Poloz described these factors as separate but working together. On the one hand, weak global demand is limiting the growth of Canadian exports and business investment in structures, equipment and software.
On the other hand, Canada’s demographic profile means that not only is labour’s contribution to the potential growth of the economy expected to decline as the baby boomers retire, but also that more people are putting away more savings as they prepare for retirement. How baby boomers, Canada’s largest population cohort, allocate those savings could have implications for potential growth and merits careful consideration.
“When a large swath of the population is making similar decisions, the impact on the broader economy can be significant,” the Governor said. “Savings that fund infrastructure and business investment are ‘being put to work,’ which can help improve productivity, while savings that go into housing are seen as contributing less to productive potential.”
The world economy is healing, and Canada will benefit in the form of stronger exports, followed by more investment and new firm creation, he said. At its recent meeting in Sydney, Australia, the G-20 underscored the importance of structural reforms for future growth, setting out an aspiration to collectively boost global GDP by 2 per cent over the next five years, or about 0.4 per cent per year in growth terms, on average, the Governor noted. The G-20 goal is reasonable, he said, and Canada shares it.
“Raising our trend growth rate by only 0.1 or 0.2 percentage points per year through such structural reforms would mean an income boost of $25,000 to $50,000 over a typical 30-year career—certainly worth having,” Governor Poloz noted.

Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

Serenity is a collection of 2 bedroom townhomes of 1100 sq ft ranging to 4 bedroom 2000+ sq ft townhomes.

The Hub by Liberty Homes

The Hub built in 2009 is set atop Nester's Grocery and steps from High Street giving these homes an urban feel.

Verdant by VanCity Enterprises

Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.

Origin by Porte Development

Origin is designed by GBL Architect & BYU Interior Designs, developed by Porte Development Corp. and marketed by Red Dot Real Estate.

Nest by Mosaic

Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community.

Highland House by Liberty Homes

A 12-storey concrete high-rise development and targeted towards Rental Investors and First-Time Condo Buyers.

Lift by Porte Development

Lift will be a wood frame building comprising of 56 homes. Building technologies, environmental features, and price points should be similar to Origin.

Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.