Ravi Punia - REALTOR®

Fraser Valley Specialist


The COVID-19 pandemic has reshaped the way that many office workers conduct their work.  This change has happened in a relatively short period of time.  Up until recently, it was highly desirable and there was a high demand to be in and around the central business district.  This phenemonen was especially apparent in Vancouver. 

For a long time now, it has been considered desirable by many workers to live, work and play downtown.  Office space is at a premium in the city and...

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Canada Mortgage and Housing Corporation (CMHC) is predicting that home prices won't recover from COVID for at least 2 years.  Here is a link to the story, by clicking here.

The CEO of CMHC, Evan Siddall says:

...preliminary figures indicate that about 10 per cent of homeowners across Canada have chosen to defer their mortgage payments, although the rate seems to be higher in parts of the country that rely heavily on the oil and gas industry.

"Tens of thousands of Canadians are having trouble...

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Good article in the Financial Post that interviews CIBC bank economists.  In it, the economists note “Overall, as the fog clears, we expect to see average prices 5-10% lower relative to 2019 levels, with high cost units in the high-rise segment of the market seeing the most notable price declines,” they said.

It is noted that the fragility of the economy means there will likely not be a quick snapback to the strengthening housing market we were seeing emerge in the first couple...

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*This blog communication is not intended to cause or induce breach of an existing agency agreement.  Views are my own and do not reflect those of any organizations that I may be associated with.

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