Donald Trump has been described by some as a trade protectionist who wants to put up walls around the United States. Having officially clinched the Republican nomination as the presidential candidate many Americans are contemplating a Donald Trump presidency and are already analyzing how this will affect America, both in terms of business and socially.
Donald Trump claims he loves Canada; no presidential nominee talks more about Canada than him. But would his presidency reflect this love? High foreign demand and record-low interest rates aside, experts say Donald Trump could be a factor in driving Canadian home prices higher. For instance, Royal LePage, a real estate agency, in its quarterly housing price survey cited the pompous billionaire’s nomination in the race for U.S. president as a positive for Canada’s brand. However, in terms of bilateral relations or policy, Trump hasn’t said anything specific about his northern neighbour.
“While this is not new news, the possibility of a Donald Trump presidency has put renewed global focus on the often stark differences in opportunity and attitude that exist on either side of our huge border.”
Many Realtors have warned that Trump could drive more demand for housing in Canada, and millennials in Canada are a worried lot. They fear that Trump’s victory could make affording a home in the country even more difficult.
According to Linda Nazareth, a senior publisher at the Laurier Institute, a Trump victory will boost the Canadian housing market. She says that Trump’s economic policies are risky, such as his opposition to free trade deals, meaning his presidency would hurt the U.S. economy.
There is a concern that while Donald Trump might not build physical walls at the Canadian border, he could create arbitrary walls by calling for stricter border security out of fears that the recent influx of refugees through Canada could in a way pose a threat to the U.S.
The director of the Centre for Canadian Studies, Christopher Sands said that that it’s not easy to predict the outlines of a Trump presidency, but he expects the real estate mogul to take a business-like approach to Canada given that he’s not a hardcore conservative.