Year of the Snake a Charm for GTA
After Canadas fast rebound from the global economic crisis, it seems almost unfair to get bonus momentum from the long-awaited US recovery (well take it and apologize later). The latest Conference Board forecast almost makes us blush--2.8% GDP growth for Toronto in 2013, best outside the West, with similar rosiness through 2017. Colliers research guru Ian MacCulloch sees that driving demand across all CRE sectors. Employment and income make consumers happy, Ian says upon us interrupting his Family Day weekend ski trip. It should boost demand for retail and industrial space, especially warehousing and distribution. A virtuous cycle appears to be setting up, he says, adding that core office markets should seriously benefit from 3% FIRE growth after a slightly negative 2012.
