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."
A pair of professional investment firms that placed big bets that money-losing video game retailer GameStop's stock will crash have admitted defeat in the David vs. Goliath battle that has seen retail investors on Reddit drive shares to record high after record high — forcing billions of dollars in losses to Wall Street firms along the way.
Individual investors again piled into several niche stock market plays on Tuesday, prompting hedge fund short sellers to scramble to cover losing bets and driving a rally in shares of companies including GameStop and Etsy.
A day after hitting their highest point since 2011, shares in Canadian tech company BlackBerry went on another wild ride Tuesday, jumping up when stock markets opened before see-sawing into positive and negative territory.
Larry Fink, chief executive of the world's biggest asset manager BlackRock , warned the companies it invests in on Tuesday they will need to show a game plan for surviving in a world aiming for net-zero carbon emissions by mid-century.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.