rennie real estate podcast trade tiffs & housing riffs: wonking out with Brendon Ogmundson
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Mar 25, 2025 Brendon Ogmundson, Chief Economist at the BC Real Estate Association, joins two economic minds for a deep dive into British Columbia's housing market. They tackle the impact of trade tariffs on both U.S. and Canadian economies, revealing how these factors influence housing prices and buyer behavior. Listeners learn about the nuances of homebuyer demand through scenario analysis, the connection between federal policies and local governance, and the critical need for improved infrastructure in expanding urban areas.
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Tariffs: A Negative-Sum Game
- Tariffs are a tax on imported goods, paid by the importing country's consumers and businesses.
- They raise prices, slow economic growth, and reduce productivity, negatively impacting all parties involved.
Trump Administration's Economic Philosophy
- The Trump administration's economic philosophy seems to be based on a belief that China's entry into the WTO harmed US manufacturing.
- Their rationale for applying this logic to Canada is unclear.
Fentanyl Misinformation
- US officials have falsely claimed that Canada's landscape is filled with fentanyl labs ignored by the RCMP.
- This makes it difficult to discern the administration's true beliefs and intentions.