Podcast interview excerpt (Rob Kumer) discussing risks to the Canadian economy—chiefly a productivity shortfall where population growth outpaces economic growth—leading to smaller per-capita output. Speaker notes a generally softening economic outlook but reports constructive real-estate operations: buildings largely full, rising rents, and healthy tenants who are paying rent, which supports stable portfolio performance.
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I think the bigger risk in Canada is actually the productivity story, not so much the employment story or the GDP story, because what we're doing is we are, you know, the population is growing faster than the economy is growing, and so everyone is getting a. A smaller slice of the same size pie. And to me, that's the biggest threat that Canada as a country faces from an economic perspective. But generally, you know, a weakening. I would say there's a. There is a soft weakening economic outlook. Our operations in the portfolio are steady, so our buildings across the platform are generally full, rents are generally growing, and tenants are generally healthy and paying the rent. So we actually see a pretty constructive operating outlook, which is really good, because if you have a general. If you have got a healthy operating outlook, the balance of the business sort of tends to take care of itself. I mean, if you have tenants who are paying rent and your buildings are full, life is generally a good place, regardless of what the investment market looks like.
