Here’s a couple of interesting articles regarding the economics of it all:
1st there’s the micro-economics – https://www.msn.com/en-ca/finance/finance-top-stories/analysis-a-looming-coronavirus-debt-crisis-could-swamp-canadian-households/ar-BB15aofo?ocid=NL_ENCA_A1_20200610_1_2&bep_ref=1&bep_csid=18605
Secondly here’s the macro-economics – https://www.msn.com/en-ca/news/parliamenthill/why-canada-might-need-a-temporary-covid-19-tax-and-repayment-fund/ar-BB15cXgb?ocid=NL_ENCA_A1_20200610_2_2&bep_ref=1&bep_csid=18605
& lastly here’s a forecast for BC Housing – https://www.bcrea.bc.ca/economics/bcrea-2020-second-quarter-housing-forecast-bc-homes-sales-to-post-strong-recovery-in-2021/
In summary: there’s concerns about the climbing consumer debt & job losses but the government debt to curb the impact, albeit huge, can be managed. The forecast for our local market is looking better than expected but may be too soon to tell.
There’s a tremendous amount of information & predictions which can be confusing. I’m here to help you navigate these uncertain times. Call, text or email me anytime to assist.