Colliers Talks

As Canada faces unprecedented economic uncertainty, the fundamentals driving real estate investment, business expansion, and regional growth are being completely redrawn. Understanding these macro forces is essential for any commercial real estate leader making capital allocation decisions today.

In this episode of the Colliers Talks Economics podcast, host Adam Jacobs sits down with Marc Desormeaux, Vice President of Policy and Economist at the Business Council of Canada, to dive into the fundamentals driving the Canadian economy and real estate market.

Subscribe to Colliers Talks Economics wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

What You’ll Learn:

● Why predictability matters more than the number itself

● The North Star immigration principle

● What’s really behind labour market softness

● The regional divide reshaping Canada

● What the data actually says about AI and jobs

● Why Canada’s productivity conversation is different this time

● How the Strengthening Canada project aims to build a more competitive, resilient, and dynamic Canadian economy

Marc Desormeaux is Vice President of Policy and Economist at the Business Council of Canada, where he leads work on the economic issues shaping the country's long-term competitiveness. Marc brings a rare blend of perspectives to the role, having worked as an economist on Bay Street before moving into policy, giving him a deep, data-driven understanding of both the Canadian economy and the business and political forces that shape it. At the Business Council of Canada, Marc works closely with the leaders of Canada's largest companies to translate on-the-ground insight into practical policy recommendations; he is currently helping to lead the Council's Strengthening Canada Project, a national consultation focused on building a more resilient, sovereign, and prosperous Canadian economy.

Note: This episode was recorded before the federal government expanded the accelerated capital cost allowance

The Cowichan decision is the most discussed legal topic in Canadian real estate right now. It packed the room at the Vancouver Real Estate Forum. It’s generating debate among top lawyers. And most of us in the industry are still trying to figure out what it actually means. In this episode of the Colliers Talks Economics podcast, host Adam Jacobs sits down with Adam Wheeler, a Partner at Fogler Rubinoff, to unpack the Cowichan decision, one of the most talked-about and misunderstood legal developments in Canadian real estate.

Subscribe to Colliers Talks Economics wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

What You’ll Learn:

• Why the Cowichan decision is the culmination of decades of litigation and legal development
• How Aboriginal title differs fundamentally from fee simple and why both can legally coexist
• Why private landowners face minimal direct liability while the Crown bears responsibility for reconciling historic breaches
• The critical distinction between declarations of Aboriginal title and court-ordered remedies against private property
• Why Indigenous jurisdiction may actually represent a significant opportunity for developers, lenders, and the broader real estate sector

Adam Wheeler is a Partner at Fogler Rubinoff in the Litigation and Dispute Resolution department, with vast expertise in Indigenous and Aboriginal law, treaty litigation, and land claims. With a background spanning criminal, civil, and constitutional law, including appearances at all levels of Canadian courts and the Supreme Court, Adam brings deep knowledge to complex territorial and jurisdictional matters.

In this episode of Colliers Talks: Wine and Warehouses, hosts Jean-Marc Dubé and Arnold Fox, both Executive Vice Presidents with Colliers’ Montreal Brokerage group, are joined by Bill Bates, Vice President, Investment Officer with Prologis — a global leader in logistics real estate. Over a Pinot Noir, they discuss the changes, challenges and future Canada's industrial and logistics market is facing.

Subscribe to Colliers Talks wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

What You’ll Learn About:

• The company's emergence as the world's largest industrial real estate company and its priorities in Canada

• How Prologis is focusing on Class A logistics investments with particular attention paid to growing its presence in Toronto, Vancouver and other Canadian centres

• Why innovation and sustainability remain top of mind for Prologis throughout its portfolio

• How demand in Canada's industrial sector has remained resilient and will likely accelerate starting in 2027

Bill Bates joined Prologis in 2021 and is responsible for overseeing capital deployment activities in acquisitions and development. He specializes in the transportation and logistics sectors, executing large development projects across North America. Founded in 1983, Prologis has a portfolio of nearly 1.3 billion square feet across 20 countries. More than 1.15 million employees work under Prologis’ roofs, for companies such as Amazon, The Home Depot, Walmart and FedEx.

Links:

Web: https://www.collierscanada.com/en-ca/news/podcast-wine-and-warehouses-with-bill-bates

Apple Podcast: https://podcasts.apple.com/us/podcast/wine-and-warehouses-with-bill-bates-from-prologis/id1541655070?i=1000777744982

Spotify: https://open.spotify.com/episode/4vasav7gLMd8W0NZ0DuR9y

YouTube: https://www.youtube.com/watch?v=-EDVVcB0JJQ

Ontario’s housing market went from one of the hottest development booms in history to a landscape of stalled projects, cancelled developments, and deepening affordability challenges. In this episode of the Colliers Talks Economics podcast, host Adam Jacobs sits down with Richard Lyall, President and CEO of RESCON, to unpack how we got here and whether there’s a path forward.

What You’ll Learn:

• How Ontario became one of the most expensive and difficult places to build in North America
• The housing-to-income ratio framework for measuring systemic dysfunction
• Why restrictive zoning policies created the wrong housing mix
• How process unpredictability and regulatory mission creep compound construction costs
• The convergence of PropTech, digitization, and multiplexing as near-term recovery drivers

Richard Lyall is the President and CEO of RESCON (Residential Construction Council of Ontario) and a leading advocate for the construction and development industry, with decades of experience navigating policy, approvals, and housing economics. With a background spanning trade policy, industrial development, and construction, Lyall brings deep expertise in housing affordability, development charges, labour supply, and regulatory reform.

Subscribe to Colliers Talks Economics wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

Links

• Player Embed Code: https://player.captivate.fm/episode/70f3c31d-77ef-402d-a41c-01fb45545910/
• Apple Podcasts: https://podcasts.apple.com/us/podcast/colliers-talks-economics-with-rescons-richard-lyall/id1541655070?i=1000776785603
• Spotify: https://open.spotify.com/episode/0uZ8Q61m8hp8OjJzumrHln?si=9uZkRbe0QziJpcLn8Xu9eA
• YouTube: https://youtu.be/9v_J5enkOVg

In this episode of the Colliers Talks Economics podcast, host Adam Jacobs is joined by Jasmine Young, Vice President of Advisory for Canada at Zonda, for a deep dive into the state of Ontario’s housing and development market.

Subscribe to Colliers Talks Economics wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

What You’ll Learn:

• Why development charge relief alone won't move the needle on high-rise construction
• How the 80% presale requirement transformed condos from entry-level housing into speculative assets
• Why condos jumped from $700 to $1,900+ per square foot in months
• How to recognize true market recovery signals beyond government stimulus
• Why the missing purpose-built-rental sector created a condo affordability crisis

Jasmine Young is Vice President of Advisory for Canada at Zonda, bringing over 20 years of experience advising on residential development across the country. With a background in market feasibility, pricing, and positioning strategy, she previously led residential consulting at Enberry Lyon Consultants, specializing in condominiums, purpose-built rental, and senior housing.

If you enjoyed this episode, make sure to subscribe, rate, and review it on Apple Podcasts, Spotify, and YouTube Podcasts. Instructions on how to do so are here.

Links:

Web: https://www.collierscanada.com/en-ca/news/podcast-ontarios-housing-stalemate

Apple: https://podcasts.apple.com/us/podcast/colliers-talks-economics-with-zondas-jasmine-young/id1541655070?i=1000772061383

Spotify: https://open.spotify.com/episode/5WHMmIjLKCSigkwKLQRuNZ?si=IJepTmZ8TKqJOmC1HzRZDg

YouTube: https://www.youtube.com/watch?v=ktxdvwGKDys

In this episode of the Colliers Talks Economics podcast, host Adam Jacobs is joined by Michael Le Coche, VP of Research and Predictive Analytics at Fiera Real Estate, in diving into the powerful and often invisible macro forces shaping Canadian real estate.

What You’ll Learn:

• The nine-stage "domino chain"
• How central banks will be forced to expand the money supply
• Why industrial and multifamily remain the long-term winners despite recent softness
• How private credit grew to its current scale
• Why gold's recent surge may foreshadow what's coming for property values

Michael Le Coche is VP of Research and Predictive Analytics at Fiera Real Estate, a division of Fiera Capital. With a background in quantitative research and a CFA designation, Michael leads forecasting and predictive analytics for Fiera Real Estate's $12.5 billion portfolio across Canada and the UK. His expertise spans capital flows, demographic analysis, macroeconomic cycles, and the transmission of monetary policy into real estate performance.

Subscribe to Colliers Talks Economics wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

Links:

Website: https://www.collierscanada.com/en-ca/news/podcast-colliers-talks-economics-with-fieras-michael-le-coche

Apple Podcasts: https://podcasts.apple.com/us/podcast/colliers-talks-economics-with-fieras-michael-le-coche/id1541655070?i=1000767214464

Spotify: https://open.spotify.com/episode/2WeCqWV5gOmo2YvLXaEXyj?si=j1u8rQSDQ0-TQJ-xajNt9w

YouTube: https://www.youtube.com/watch?v=BFXdyf4Na2Q

In this episode of the Colliers Talks Economics podcast, host Adam Jacobs is joined by Amedeo Prete, Head of Valuation and Investment Analytics at BentallGreenOak (BGO), to explore the growing disconnect between appraised values and real market conditions; why Canada’s repricing cycle has been a slow grind compared to the sharp corrections seen in the U.S.; and what that means for fund flows, investor confidence, and capital allocation.

Subscribe to Colliers Talks Economics wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

What You’ll Learn:

● How to identify the real problem with current valuations

● The governance framework for appraisal accuracy in low-transaction environments

● Why bifurcation between trophy and secondary assets is reshaping sector valuations

● How portfolio rebalancing is becoming the new driver of investment activity

● Why appraisal lag is damaging fund flows and eroding capital allocator trust

Amedeo Prete is the Head of Valuation and Investment Analytics at Bentall GreenOak (BGO) and is an AACI-certified appraiser with deep expertise in commercial real estate valuation, fund management, and institutional portfolio strategy. With a background spanning appraisal governance, real-time valuation methodologies, and multi-asset class analysis, Amedeo brings a rigorous, data-driven perspective to real estate investment decision-making. Additionally, he’s Co-founder and Board Member at ATIRE (Association of Toronto Italians in Real Estate).

Links:

Website: https://www.collierscanada.com/en-ca/news/podcast-why-canadian-real-estate-repricing-is-lagging-behind-the-market

Apple: https://podcasts.apple.com/us/podcast/colliers-talks-economics-with-bgos-amedeo-prete-why/id1541655070?i=1000762436462

Spotify: https://open.spotify.com/episode/4HEz9gi7yXmOug75JRnoLF?si=3ThaDp_VSBu9Qg4sdJqFcA

YouTube: https://www.youtube.com/watch?v=7bccl3BCkiI

Canada’s office market has been through a lot, but it’s starting to feel like things are settling down. In some markets, signs of stability and optimism are emerging.

In this episode of Colliers Talks, Colliers Research and Brokerage experts are joined by Scott Gordon, Head of Asset Management at Manulife Canada, and together, they discuss the current state of the asset class.

Eliezer Timolien, host and Office Research Lead, and Thomas Coutu and Jennica Palecek, both Vice Presidents within Brokerage, explore with Gordon the bifurcation in office demand, assessing the interplay between trophy buildings and Class B and C spaces, while looking at how Manulife is approaching and managing its office portfolio.

Subscribe to Colliers Talks wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

The conversation covers:

1. The acceleration of the return-to-office movement and how it’s impacting demand in Canada’s major office markets
2. How the slowdown in new office development is helping stabilize vacancy and stoke the flight-to-quality trend
3. Why improving the office experience and investing in quality amenities are musts in today’s market
4. How owners of Class B and C buildings can make sure their assets remain relevant and competitive in their markets

Links:

Website: https://www.collierscanada.com/en-ca/news/podcast-colliers-talks-office-with-manulifes-scott-gordon

Apple Podcast: https://podcasts.apple.com/us/podcast/colliers-talks-office-with-manulifes-scott-gordon/id1541655070?i=1000756161037

Spotify: https://open.spotify.com/episode/4FrETAeukrKUw6S8q9XHXV?si=177kRm2bQj6geluKWCecCw

YouTube Podcast: https://www.youtube.com/watch?v=mEbeRCZvK34

Activity in the United States’ economy and office market tends to foreshadow what's coming for Canada by about a year and half.

In this episode of Colliers Talks Economics, host Adam Jacobs, Head of Research with Colliers Canada, discusses with Marianne Skorupski, National Office Research Director with Colliers U.S., the big-picture office market conditions south of the border.

Skorupski shares her insights on topics such as return-to-office, the shifting investor profile, office conversions, lender behaviour, and more.

Subscribe to Colliers Talks Economics wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

The conversation covers:

• Office demand in key U.S. cities and how return-to-office trends are shaping leasing conditions

• How investor profiles are increasingly shifting towards private sources

• Why AI is helping drive fresh office demand, particularly in the Bay Area

• How the World Cup will help spur ancillary activity and spending across hospitality and other real estate types in large U.S. host cities

If you enjoyed this episode, make sure to subscribe, rate, and review it on Apple Podcasts, Spotify, and YouTube Podcasts. Instructions on how to do so are here.

Amidst shifting trade policies, volatile demographics, and uncertainty around interest rates, Canada’s economic outlook has become more complex for real estate decision-makers. In this episode of the Colliers Talks Economics podcast, host Adam Jacobs is joined by Tony Stillo, Director of Economics for Canada at Oxford Economics, to unpack what has changed in forecasting; why USMCA negotiations are the key near-term hinge for growth; and how fiscal policy, infrastructure spending, and immigration shifts are shaping the path ahead.

Subscribe to Colliers Talks Economics wherever you listen. Learn more about how Colliers Canada stays on top of real estate trends at www.collierscanada.com.

What You’ll Learn:

1. How to build resilience into long-term real estate underwriting
2. Why demographic volatility is the new wild card for real estate investors
3. The framework for evaluating the USMCA renegotiation risk to your portfolio
4. How rising long-end interest rates present both opportunity and risk despite flat short-end policy rates
5. Why condo market misalignment persists despite chronic housing shortages

Tony Stillo is the Director of Economics for Canada at Oxford Economics, where he leads the national macro forecast and provides critical analysis on data releases and macroeconomic trends shaping Canada's economy. With over a decade of experience at the Ontario Ministry of Finance managing macro policy and modeling, Tony brings deep insight into how government decisions and policy interventions influence economic outcomes.

Links

Website: https://www.collierscanada.com/en-ca/news/podcast-global-trade-interest-rates-and-housing-the-road-ahead

Apple Podcasts: https://podcasts.apple.com/ca/podcast/colliers-talks-economics-global-trade-interest-rates/id1541655070?i=1000751772041

Spotify: https://open.spotify.com/episode/3vCZ6ZUnBjTqCmqpXTjnXj?si=mAUFVi0MQtOs0yvQEnCI4Q

YouTube: https://www.youtube.com/watch?v=rq7YxZprOPw