Once-Hottest Housing Market Goes Ice Cold at Bad Time for Canada

A "For Sale" sign outside a house in Montreal, Quebec, Canada.Photographer: Nasuna Stuart-Ulin/Bloomberg

For the better part of two decades, any time the Canadian economy hit a snag — the global financial crisis, the Covid-19 pandemic — its red-hot housing market would power it through.

But as Canada grapples with US President Donald Trump’s trade war, the country may not be able to rely on housing this time.