Canada's Housing Market Outlook Clouded by US-Iran War and Tariff Threat

Canada's housing market outlook is clouded by political and economic risks, according to Ownright co-founder Joel Fox. The main reason for this subdued outlook is Canadians' unease about the national economy, which has not shown any signs of improvement.

The recent vow by US President Trump to impose huge new tariffs on Canadian goods has revived cross-border uncertainty that has deterred many potential homebuyers this year. This has stoked fears of another inflation flareup, particularly with the ongoing US-Iran war.

According to Fox, decisions made in Washington have a significant ripple effect on the Canadian economy and the homebuying outlook here. He believes that the real impact on the market is the broader economic uncertainty driven by events south of the border.