All posts by VCI Admin

Friday Free-for-all! June 12th 2020

It’s the end of another work week and everything is fine!

So what are you seeing out there? Looking at any of those new listings available on the market? Checking out stocks? Or just heading to Florida and breathing in deeply the fresh summer air?

Post your news links, thoughts and anecdotes in the comments below and have a fantastic weekend!

CMHC: Pandemic will affect housing market until 2022

They expect a 25% drop in some regions:

Canada’s national housing agency says the number of new homes being built and sold will remain below the levels they were at before COVID-19 until 2022 at least, and prices won’t get back to where they were for another two years either.

In a special report, the Canada Mortgage and Housing Corporation said Wednesday that the COVID-19 pandemic will lead to a “historic recession in 2020,” which will lead to “significant falls in indicators of the housing market.”

Just like the flu, but more so!