TD Economics:
Home Is Where The Wealth Is

TORONTO — Housing activity has directly accounted for more than a quarter of the increase in economic output since 2001, and about a fifth of output post-2008. The wealth impacts of home price gains have also been material - just over 21% of consumer spending growth is attributable to the benefits of positive housing wealth effects. Housing has added as much as 1.3 percentage points to real GDP growth in the post-crisis period. To read the full release, click PDF.