January 2026 - Andersen Brethour Report

The January 2026 Andersen Brethour Report sets the tone for the year ahead — and it is a year that will be defined by divergence, discipline, and careful positioning.

Canada enters 2026 facing economic headwinds. Growth is expected to hover just above 1%, business investment remains weak, and uncertainty surrounding July’s CUSMA renewal is keeping companies cautious. Meanwhile, the United States is accelerating, supported by tax stimulus, AI-driven productivity, and anticipated Federal Reserve rate cuts.

This widening economic gap will shape capital flows, interest rates, and housing performance throughout the year.

This month’s key insights include:

✅ Canada underperforms the U.S. in 2026 as trade uncertainty freezes investment

✅ Domestic demand remains soft; GDP support from import substitution will fade

✅ U.S. momentum strengthens with tax refunds, business expensing, and Fed cuts

✅ Housing enters a “first-half / second-half” recovery year

✅ 2026 becomes a year of balance — not boom — in resale and new housing