March 2020 Newsletter Introduction

Hello  Real Estate Interestee –  

It’s MARCH SPRING TIME  – with it comes with Spring Cleaning and Hayfevers…I hope you’re doing well among the economic downward pressure due to the growing concerns around the evolving COVID-19 (“coronavirus”); which cause a significant impact from local citizens that is worried about their health and safety to the international finances and policies around the world. Like many of us, we’re following the lead of the Canadian public heath authorities to take appropriate measures to stay safe. Whether this virus will impact the real estate market, it would be hard to determine but at the moment due to the virus, purchasing and selling a home would be less of a priority as more people are watching/listening closely on how this virus will progress and how it will affect our nation as a whole. The government has sprung into action by providing $1 billion economic package to help fight against the virus, and with the Bank of Canada’s bank rates overnight rate reduced to 0.75 percent- their lowest rates to date would hopefully help spur our economy and our real estate market along side the reduced stress test level as well. Stay safe and healthy during this March month!

– Sam