{"id":393043,"date":"2026-01-07T03:18:07","date_gmt":"2026-01-07T03:18:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/393043\/"},"modified":"2026-01-07T03:18:07","modified_gmt":"2026-01-07T03:18:07","slug":"slower-home-buying-helping-boost-spending-elsewhere","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/393043\/","title":{"rendered":"Slower home buying helping boost spending elsewhere"},"content":{"rendered":"<p class=\"b-date-custom__date-item\">Updated:\u00a0January 06, 2026 at 1:16PM EST<\/p>\n<p class=\"b-date-custom__date-item\">Published:\u00a0January 06, 2026 at 11:00AM EST<\/p>\n<p class=\"c-paragraph\">TORONTO \u2014 The chief executive of RBC says the slowdown in home buying has helped allow consumers to keep spending to boost the wider economy.<\/p>\n<p class=\"c-paragraph\">Speaking at RBC\u2019s bank CEO conference Tuesday, Dave McKay says money that Canadians would otherwise be devoting to debt servicing is instead going to buying goods and services.<\/p>\n<p class=\"c-paragraph\">He says the low activity in condo pre-sales and construction does weigh on the economy, but that higher spending elsewhere has helped create jobs and stabilize employment in the country. <\/p>\n<p class=\"c-paragraph\">McKay says the trend has helped offset trade headwinds in the economy, including tariffs on some sectors like metals and autos. <\/p>\n<p class=\"c-paragraph\">Despite the continued spending, he says many are struggling and that growing inequality is increasingly driving politics.<\/p>\n<p class=\"c-paragraph\">He says a key risk ahead is the rising disparity and political shift it\u2019s creating, especially in the United States.<\/p>\n<p class=\"c-paragraph\">This report by The Canadian Press was first published Jan. 6, 2026.<\/p>\n<p class=\"c-paragraph\">Ian Bickis, The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Updated:\u00a0January 06, 2026 at 1:16PM EST Published:\u00a0January 06, 2026 at 11:00AM EST TORONTO \u2014 The chief executive of&hellip;\n","protected":false},"author":2,"featured_media":393044,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[4498,45,49,48,46,133,6578],"class_list":{"0":"post-393043","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-banks","9":"tag-business","10":"tag-ca","11":"tag-canada","12":"tag-economy","13":"tag-finance","14":"tag-retail"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/393043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=393043"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/393043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/393044"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=393043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=393043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=393043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}