This episode explores the varying lifespans of different building types, from historical structures lasting 500-1,000 years to modern commercial buildings lasting 60-80 years. It covers the economic life of buildings, including factors like location, property type, and market conditions that influence their viability.

• Building materials and construction quality significantly impact longevity, with concrete structures lasting around 100 years and steel structures lasting 100-150 years.
• The economic life of a building depends on multiple factors including location, property management, and market conditions, affecting its ability to generate revenue over time.
• Regular maintenance and understanding of depreciation are crucial for extending a building's lifespan, with various components having different life expectancies, from 15 years for paint to 100 years for masonry.

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The Emerging Trends report, collaboratively produced by ULI and PWC with 175 contributors, provides comprehensive insights into various markets and asset classes across Canada⁠. While some markets struggle with high interest rates and construction costs, others like Calgary and Edmonton are benefiting from strong population growth and relative affordability⁠⁠.

• Toronto's condo market faces its "toughest challenge in decades" with record-high unsold inventory of 25,893 units and numerous delayed projects⁠.
• Calgary leads as the top real estate prospect for 2025, driven by strong population growth (87,000 new residents) and economic diversification⁠
• Secondary markets like Edmonton, Saskatoon, and Winnipeg are gaining attention for their affordability and growth potential, with Edmonton ranking 4th for overall real estate prospects in 2025

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The Bank of Canada has made its 5th consecutive rate cut, dropping rates by 50 basis points, creating a 150bps differential with US rates - the largest since 1997⁠. While the housing market shows increased activity without price inflation⁠, there's disagreement between former governor Poloz and current governor Macklem about whether Canada is in a recession⁠. A recent poll shows Canadians prefer a strong dollar (61%) over lower interest rates (39%)⁠

• The housing market is experiencing increased activity without price inflation, which the Bank of Canada views as a positive development⁠⁠​
• Former BoC Governor Poloz believes Canada is in a recession, while current Governor Macklem maintains the economy is still growing, though slowly⁠⁠​
• Current market conditions present opportunities for investors with falling prices and rates, but come with risks of declining rents and increasing unemployment⁠

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