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We’ll call this the Great Canadian Non-Recession

The would-be homebuyers flocking to Brad Lamb’s real estate brokerage are remarkably chipper for a country that’s supposed to be in a recession.

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Despite the ominous predictions, Lamb said buyers are confident that they’ll remain employed and the value of the homes they buy will go up. He pegged confidence at a giddy 10 out of 10 in Toronto, seven out of 10 in Ottawa and five out of 10 in oil-dependent Alberta, compared to zero during the 2008-2009 financial crisis.

Confidence is “affected,” Lamb said. “But it’s not affected to the point where people are like… ‘The world is ending.’ Interest rates are low, the economy feels pretty good, people feel good about their jobs.”

While economists wring their hands about whether May and June’s gross domestic product figures will show Canada entered a technical recession in the second quarter, consumers are blissfully buying new cars, putting down payments on houses and expressing confidence in the economy. Despite the effects of the crash in oil prices on Alberta, employment remains strong across the country.