#59 — Benjamin Tal: The State of Canada’s Economy and Housing Market in 2026

About this episode

Benjamin Tal discusses the state of Canada's economy and housing market as we approach 2026.

Our guest this episode is Benjamin Tal — Managing Director and Deputy Chief Economist at CIBC Capital Markets. Benjamin has spent over two decades publishing CIBC's influential "In Focus" research, has been recognized by the International Monetary Fund as a leading expert on Canada's real estate market and has testified before Parliamentary committees on the country's most pressing economic issues. In this episode, Dave and Benjamin dive into the state of Canada's economy heading into 2026. They break down what's gone wrong with Canada's real estate market, evaluate recent central bank decisions and unpack the impact of HST/GST relief and development charges on housing supply. Benjamin also explains the structural shift toward a rental culture in Canada and why rent control has been so disastrous for affordability. The conversation also explores the widening productivity gap between Canada and the U.S. in the AI era and the possibility of universal income guarantees on the horizon. Along the way, Benjamin shares his perspective on monopolies and limited competition in Canadian industry, the overwhelming red tape facing small businesses, the real effects of immigration on the…

People in this episode

Host: Dave

Guest: Benjamin Tal

Topics covered

• Canada's economy
• housing market
• real estate
• central bank decisions
• rental culture
• productivity gap
• immigration effects

Keywords

• Canada economy
• housing market
• real estate
• central bank
• rental culture
• productivity gap
• CPI calculations

Mentioned in this episode

Organizations: CIBC Capital Markets, International Monetary Fund

Places: Canada, U.S.

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