Ep 20: The Economic Twilight Zone - How Uncertainty Is Reshaping Canada's Financial Landscape

Send us Fan MailEconomic uncertainty hangs like a fog over Canada’s future — and in this episode, Brendon Ogmundson, Chief Economist at the British Columbia Real Estate Association, helps us cut through it. He breaks down the complex forces reshaping our financial landscape, from housing markets to global trade tensions.But beyond the usual indicators lies something harder to pin down: what Ogmundson calls “uncertainty as more of a vibe than something that can be quantified.” It’s a vibe that’s freezing consumer confidence and sidelining homebuyers, with BC home sales now sitting 20–25% below the 10-year average.The stakes are rising. With potential U.S. tariffs on the horizon and economic policy uncertainty measured at levels four times higher than during the 2008 financial crisis, markets are bracing for impact. Even though BC enjoys more diversified trade — sending only 50% of exports to the U.S., compared to much higher figures in other provinces — it remains vulnerable to global headwinds. As Ogmundson puts it: “We’re a small, open economy. If the global economy slows, the BC economy will slow as well.”The conversation takes a surreal but fitting turn, comparing our current moment to a Twilight Zone episode — one where fear and unpredictability rule the day. It’s a powerful metaphor for a strange, unstable era where economic “stagflation-lite,” soaring construction costs, and stalled development pipelines feel all too real.If you're looking to understand the intersection of trade tensions, housing affordability, and monetary policy — all from a BC lens — this episode is essential listening. Ogmundson’s insights go beyond the headlines, offering a grounded perspective on why this moment feels so different from past downturns — and what we should be watching next.Quick heads up: this episode was recorded on May 8, 2025, so while the news may have evolved, the insights still hit home.