BCBC In The News
BIV: Economic Outlook 2019 - LNG Canada offsets real estate slowdown
“LNG, that’s huge – very big for the province,” said Ken Peacock, chief economist and vice-president of the Business Council of British Columbia. “That will in large part fill the hole created by real estate, but not fully.”
“The weakening of the real estate market is very, very, very significant,” said Peacock, pointing out that a dramatic slowdown in that market has implications for many other industries such as the legal and financial sectors.
“In 2019 you’re going to see the hiring challenges intensify,” Peacock said. In construction and trucking, for example, vacancy is already at 7% and 10%, respectively.
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