CREW Calls on Economic Forecaster
CIBC managing director and chief economist Dr. Avery Shenfeld is one of the more accurate forecasters on the Canadian economy. So he probably knew we were going to call him on the phone the other day with some questions. You see, Toronto CREW has called on him to be the main speaker at its signature event on April 30 at The Grand Banking Ball at One King W and we wanted a sneak preview. He'll be "looking at the outlook for non-residential real estate and at the broader economy that drives that outlook." The big thing for real estate as an asset class has been low interest rates, the backdrop to investor demand for yield-bearing assets. Short-term low interest rates in Canada are likely to continue, with perhaps only a marginal hike in late 2014, he says.
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