The surprise U.S. presidential victory of Donald Trump and efforts to cool Canada’s red-hot housing market were among the most important stories BNN’s anchors and reporters say they covered over the past year.

TRUMP'S SURPRISE VICTORY

Trump’s stunning White House win – and the rise of political populism that it represents, was one of the most significant stories of the year and will have far reaching consequences, said Jon Erlichman, Co-host of Business Day AM.

“(Trump’s) shocking presidential victory opened the world's eyes to a level of discontent brewing in the United States,” he says. “Trump's win has opened the door to a great list of unknowns in the years ahead. He could become the most important story of 2017 as well.”

Trump’s promises to crack down on illegal immigration and “unfair” trade deals he claimed were responsible for job losses among American workers resonated with many voters. Similar themes were heard during the so-called “Brexit” campaign in the U.K. that led to Britain voting to leave the European Union in June. Both votes represent a rejection of “years of progress on trade and globalization,” says Paul Bagnell, host of The Street.

Trump’s victory was not only the most important story for many BNN hosts, he was also ranked as the most compelling business leader of the year as well as the story many hosts disliked covering the most.

Trump’s presidential upset over Democratic rival Hillary Clinton came as a surprise to many. Everyone from seasoned political operatives to stock-market strategists predicted that Clinton would win the White House. That failure prompted BNN reporters Jameson Berkow and Paige Ellis to cite the upset as the worst call of the year.

But while Trump dominated the headlines around the globe, Canada’s efforts to control the hot-housing market was the most significant story of the year, argues Greg Bonnell, BNN’s real estate reporter and the host of House Money.

RED-HOT HOUSING

Over the past year, Canada’s Minister of Finance, the Bank of Canada, provincial and municipal governments and Canada’s banking and housing regulators all enacted measures to try to get control of Canada’s record-breaking housing markets in Toronto and Vancouver.

“When it appeared nothing could derail the Vancouver market, various levels of governments stepped in with policies aimed at cooling demand,” says Bonnell. “With Vancouver on the decline, many are asking how much longer Toronto has before it comes back to earth.”

Ottawa enacted new mortgage rules that expand “stress tests” for borrowers in October. All homebuyers seeking an insured mortgage, regardless of how much they have for a down payment, must now prove they could still afford to make payments if interest rates rose to the Bank of Canada’s five-year mortgage rate.

The new rules will increase costs for consumers and could have wide-ranging implications in the coming months says Pattie Lovett-Reid, CTV's Chief Financial Commentator. “The impact on the first time homebuyer and corresponding impact on markets like Toronto and Vancouver will be significant” she says.

FORT MCMURRAY WILDFIRES

BNN’s on-air personalities were not uniform in their nominations for the most significant story of the year. BNN Western Canada correspondent Tara Weber suggested it was the devastating impact of the Fort McMurray wildfires.

The fires forced the mandatory evacuation of nearly 80,000 residents in the community already hit hard by the collapse in crude oil prices. The disaster cost Canadian insurers an estimated $3.6-billion making it the most costly natural disaster in Canadian history. The fires helped push Alberta provincial debt higher, curtailed Canadian oil production and had an impact on the overall Canadian economy.

Despite the challenges, Canada’s stock market performed much better than expected and actually outperformed its peers. That outsized achievement makes it the most significant story of the year, argues Amber Kanwar, co-host of BDAM and The Disruptors. “Whether it is Teck Resources up 540 percent so far this year, or the rally in energy stocks or the numerous bank stocks at all-time highs – the TSX is the little index that could,” she says.

Whether its Canada’s stock market, the potential impact of a Donald Trump presidency or the continued fallout from Canada’s hot housing market, 2017 is shaping up to be an interesting year.