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  • Demitry Omrin


From the onset of the pandemic it was clearly necessary for the Federal Government to introduce economic stimulus. An entire economic shut down is an unprecedented event and the inability to generate income for many required a temporary income substitute. Now more than 16 months after the onset of the initial shutdown, family savings rates are up, consumer spending and debt are down, and mortgage debt has effectively replaced consumer debt. Normally, consumer debt (i.e. credit cards) rises during economic downturns due to job losses and mortgage debt declines due to inability to qualify and purchase real estate. The necessary economic stimulus that was invoked created the above situation. My sincere hope is that this stimulus does not work against the population by continuing to create inflationary pressures that may lead to a rise in interest rates, causing the real estate market to over correct. #recg #realestate #boc #commercialrealestate

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