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A new market intelligence report compares the current downturn to that of previous large Canadian recessions to see how bad this recession will turn out to be. It thinks that the recession will not be good, but won’t be as bad as the worst. The time it takes to come out of the recession will depend on how long Canada’s economy remains shut down due to the coronavirus, but the outlook is not as bad as some feared.

Key Takeaways:

  • A new report by the British Columbia Real Estate Association goes into predictions of the next recession.
  • According to the association, the upcoming recession will not be the worst in history.
  • Read on for more about how the coronavirus is predicted to affect the housing market.

“If the comparisons can be trusted, the upcoming 2020-21 recession should be uncomfortable but hardly unbearable.”

Read more: https://www.mortgagebrokernews.ca/news/recessions-on-its-way–how-bad-will-it-be-328857.aspx

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