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Analysts Nick Sciple and Jim Gillies discuss the Canadian housing market, the deceptive nature of mortgages, and 6 long-term, growing bank stocks. They also highlight a company specializing in the absurd and delve into the technology sector, discussing Shopify and Constellation Software.
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Quick takeaways
- Canada's economy heavily depends on finance and resources, lacking a substantial tech sector.
- Despite the challenges in the Canadian housing market, the banking sector and certain unique companies present attractive investment opportunities.
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Canadian Economy Compared to the US Economy
The Canadian economy is about one-tenth the size of the US economy in terms of GDP and population. While Canada has a rich landmass, most of its population is concentrated within 150 miles of the US border. The Canadian economy is heavily focused on finance and resources, with a lack of a substantial tech sector. Additionally, Canada has a significant dependency on housing, with a collective mindset that house prices only go up. The country is currently experiencing real estate anxiety with household incomes and housing costs at their highest levels since the 1980s.
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