CIBC Webinar: Health Crisis Pandemic and Real Estate 

Speakers: CIBC Economists, Benjamin Tal


On Real Estate:

• Resale real estate market is frozen; prices are neither rising or falling

• Construction in high rises are continuing but low productivity; supply and demand will continue to be low

• Mortgage deferral, banks are offering 6 months no questions asked: but if credit scores decline due to failure to pay other bills, that could have an adverse effect on capital available 

• Commercial loans, offering 3-month principal deferral (interest cannot technically be deferred without default, but this can be corrected by OSFI)

• Rent, something is happening, should come soon ... Province could step in to pay; individual repays the Province