I guess you’ve heard the news. The Consumer Price Index (main measure of inflation) rose 8.1% in June compared to last year. It’s the highest year-over-year increase since January 1983. All thanks to rising gas prices. According to StatsCan, we paid an average
of 54.6% more for gas this year. And….the price of food rose 8.8% since last year. Yup. Homemade lunches and carpooling will be the new norm.
The CRE industry DOWN SIDE…Less demand from investors. CRE values are dropping in some cases. The increased cost of producing and purchasing is affecting development costs (Remember high lumber prices in May 2021?). And labour costs are slowing down new construction and inventory.
The UP SIDE…According to some experts, “Canada is getting off lightly.” Inflation in the U.K. hit 9.4% in June and The US is 9.1% higher in June than it was in 2021.
MY SIDE…a home-based catering, ride sharing and industrial property construction startup in the works. Much like a 7-11–one stop shop. Gotta have vision, right?
