Message from
the CEO
Reasons for optimism abound
Those of you who have heard me speak on the long-term future for our profession, and my perspective on where we’re headed as a country, know that I am an optimist on both counts. Both Canada and Royal LePage have enjoyed a remarkable run this past decade, with growth that consistently outpaced other countries, other industries and other companies. My rosy prognosis for our future is based upon fundamentals already in place. And the belief that leadership in our country will continue to do the right thing – more or less. Understanding Canada’s place in the world is helpful in determining the future of our country’s real estate market, so let me start with a bird’s eye view of Canada. Yes, we rocked the planet as host of the Olympics, but I’m referring to what gives strength to our economy. Canada’s somewhat stormy but high profile hosting of the G8 and G20 summits highlighted our position as a global economic powerhouse. In the next few paragraphs, I’ll provide my perspective on Canada’s political and financial soundness and our competitive strengths and weaknesses, relative to other nations. This is not a complicated macroeconomic perspective, but one which I believe can be boiled down to what real estate professionals do each day. And by extension, I hope that it will assist you in articulating to your clients why there is almost never a bad time to invest in real property in our country. Inventory A flourishing real estate industry is dependent on a few fundamentals: the total number of homes available for sale must increase over time, the number of buyers must grow, and the income of those buying houses must appreciate. Luckily, we are in an industry where the total inventory of products for sale is always increasing. A property, once built, is permanently added
2 | Leading Edge Magazine | Fall 2010
