Bank of Canada report looks at the economic impact of COVID-19
Posted on May 19, 2020 by Iman Emadian
The Bank of Canada’s latest report takes a deeper look at the impact COVID-19 is having on the Canadian financial system, including the housing market.
“Income uncertainty and physical distancing have led to considerably slower activity in housing markets, with sales and listings both down sharply,” the report states.
“Reduced liquidity in the housing market could add pressure to household finances since households may find it increasingly difficult to sell their homes. Most households now expect house prices to decline over the next 6 to 12 months."
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