(Source: The Gazette)

To judge by the recent surge in Canadian retail sales growth, it’s beginning to look as if the powerful recovery in Canada’s real-estate market has become one of those gifts that just keeps on giving.

Why link sales of coffee tables with the price of condos? Because there’s evidence that real estate values are a potent spur to consumer spending, not only in economists’ theoretical studies but also in the behaviour of Canadians.

The latest evidence comes in retail sales numbers for September, which jumped by a very robust one per cent. Just to drive the point home, Statistics Canada simultaneously announced that it had revised the already-strong August retail growth even higher, matching September’s gain.

Read Jay Bryan’s full article “Retail revival fuelled by housing boom” in The Gazette (November 24, 2009).

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