Northern exposure: Why commercial real estate in Canada? Why now?
1 Canada distinguished itself as one of only a handful of developed countries to experience a strong economic recovery from the depths of the 2008 financial crisis. Much of this resilience is due to Canada’s healthy and stable institutions. In particular, Canada’s banking sector remained well capitalized through the crisis, and, according to reports by the World Economic Forum, it has consistently ranked the soundest in the world for the past three years. While most advanced countries are dealing with significant government debt and deficits that will likely constrain their growth prospects for years to come, Canada’s fiscal situation remains comparatively healthy; the Canadian federal government is likely to be out of deficit by as early as 2016. Canada is also a country with a rich store of energy and other commodities that is highly desired by rapidly growing emerging countr