CANADIAN MEDIA
  • Home Page
  • World News
    • Africa
    • Asia
  • Law
    • Investigative Law
    • National Law/Justice
    • Global Law & Crime prevention
  • Politics
    • Global Politics
    • US Politics
    • National Politics >
      • Alberta
      • British Columbia
      • Quebec
      • Calgary
      • Edmonton
      • Manitoba
      • Ontario
      • Saskatchevan
  • Business
    • Developing countries
    • Global Business >
      • Global Economic Development
    • National Business >
      • Alberta
      • British Columbia
      • Manitoba
  • Health
    • National Health >
      • Alberta
      • British Columbia
      • Manitoba
      • New Brunswick
      • Newfoundland & Labrador
      • North West Territories
      • Nova Scotia
      • Nunavut
      • Ontario
      • Prince Edward Island
      • Quebec
      • Saskatchevan
      • Yukon
    • Global Health
  • Life
    • Arts/Architecture/Archeology
    • Book/Arthur/Movie Reviews
    • Canada-India News
    • Celebration/Observance/Recognition >
      • Global Celebration/Observances/Recognitions
      • National Celebration/Observance/Recognitions
    • Education/Culture/Festivals
    • Entertainment >
      • Intern'l Entertainment/Hollywood
      • NationalEntertainment
      • Entertainment-TIFF
      • Entertainment/Regional/Bollywood Films
    • Food/Nutrition/Agriculture
    • Interviews
    • Libraries/Museums/Archives >
      • Global Libraries/Museums/Archives
      • National Libraries/Museums/Archives >
        • Nat'l Museums PhotoStories
    • Media
    • Sports
    • Travel/Tourism
    • World Cinema
  • Earth
    • Animal issues
    • Astronomy >
      • ESA Photo Stories
      • NASA Photo Stories
      • NASA Videos
    • Biodiversity/Wild Life/Ecosystem
    • Earth Scie/Biotech/Archaeology/Agriculture
    • Environment/Climate Change/Forests
    • Fisheries & Oceans
    • Sci & Res
    • Technology & Innovation
  • Humanitarian
    • Domestic/Sexual Violence
    • FAO of UN
    • First Nations
    • Gender issues >
      • National Gender Issues
      • Global Gender Issues
    • Human Rights/Child rights
    • Human Trafficking
    • Humanitarian Aid
    • Immigration/Refugees/Citizens
    • Floods/Fire/NaturalDisasters/Accidents/Deaths
    • Peace/Security/Gun Violence >
      • Global Peace/Security/Gun Violenece
      • National Peace/Security/Gun Violence
    • Pride Toronto
    • Racial diversity
    • SDGs
    • UN Affairs
    • Women rights
  • Multimedia
    • ILO Videos
    • Lib of Congress Videos
    • News in photos
    • UN Photo Stories
    • UN videos
    • UNHCR Videos
    • Videos
    • WHO Videos
  • NASA Photo Stories

Negative as well as positive effects of  COVID-19 on Canadian economy

6/23/2020

0 Comments

 
#Canada; CanadianEconomy; #CanadaLife; #Covid19Pandemic

Ottawa, Jun 23 (Canadian-Media): COVID-19 pandemic has affected every facet of Canadian life, from how and where we live, to how we shop, eat and work, media reports said.
Picture
COVID-19 Pandemic. Image credit: Twitter handle
While  COVID-19 had drastically affected Canada's economy, the pandemic has also brought some positive effects.

The housing market which has been strongly hit by the pandemic with mortgage delinquencies are projected to rise, while prices are forecast to drop.

The Physical distancing requirements on the real estate industry due to the pandemic introduced in March, the retailers could not host open houses, and buyers were concerned about the future proving this year to be the worst April for home sales in almost 40 years, and May was only slightly better.  

Although the sellers were badly affected by the lower price of the housing market, it provides an opportunity for buyers to take advantage of this.

Lenders were prompted by the COVID-19 to cut mortgage rates to record lows which were also a welcome development for buyers.

Moreover, current owners are also being benefited by the current lower rates. Interest is skyrocketing right now as is evident from Lowestrates.ca, a comparison website for mortgages, insurance, and loans

As regards the commercial real estate, there has been a small shift away from the standard downtown office towers due to the COVID-19 pandemic. Many people are reconsidering if they want to live and work in dense urban areas if they don't have to.

The effect of the pandemic on public transit is seen in its rapid decline in ridership. But on the other hand, there had been a significant surge in bike sales and bike lanes are experiencing a boost.

Even car ridership has increased due to a partial recovery of oil prices as well as the safety and security felt by consumers in their own self-contained travel bubbles. This has given rise to higher demands for cars.

Yet another or Canada's sector, the real estate sector that has been hit hard by the pandemic, According to new numbers released last Friday retail sales had fallen by more than a quarter in April, their biggest plunge on record.

Pandemic's biggest success as far as Canada's economy is concerned, is visible in online shopping, with online sales have been more than doubled in April, and now makeup almost 10 percent of everything sold in Canada, the biggest proportion on record.​
0 Comments



Leave a Reply.

    RSS Feed

    National Business

    All

    Archives

    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    May 2019
    April 2019
    March 2019
    December 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017

  • Home Page
  • World News
    • Africa
    • Asia
  • Law
    • Investigative Law
    • National Law/Justice
    • Global Law & Crime prevention
  • Politics
    • Global Politics
    • US Politics
    • National Politics >
      • Alberta
      • British Columbia
      • Quebec
      • Calgary
      • Edmonton
      • Manitoba
      • Ontario
      • Saskatchevan
  • Business
    • Developing countries
    • Global Business >
      • Global Economic Development
    • National Business >
      • Alberta
      • British Columbia
      • Manitoba
  • Health
    • National Health >
      • Alberta
      • British Columbia
      • Manitoba
      • New Brunswick
      • Newfoundland & Labrador
      • North West Territories
      • Nova Scotia
      • Nunavut
      • Ontario
      • Prince Edward Island
      • Quebec
      • Saskatchevan
      • Yukon
    • Global Health
  • Life
    • Arts/Architecture/Archeology
    • Book/Arthur/Movie Reviews
    • Canada-India News
    • Celebration/Observance/Recognition >
      • Global Celebration/Observances/Recognitions
      • National Celebration/Observance/Recognitions
    • Education/Culture/Festivals
    • Entertainment >
      • Intern'l Entertainment/Hollywood
      • NationalEntertainment
      • Entertainment-TIFF
      • Entertainment/Regional/Bollywood Films
    • Food/Nutrition/Agriculture
    • Interviews
    • Libraries/Museums/Archives >
      • Global Libraries/Museums/Archives
      • National Libraries/Museums/Archives >
        • Nat'l Museums PhotoStories
    • Media
    • Sports
    • Travel/Tourism
    • World Cinema
  • Earth
    • Animal issues
    • Astronomy >
      • ESA Photo Stories
      • NASA Photo Stories
      • NASA Videos
    • Biodiversity/Wild Life/Ecosystem
    • Earth Scie/Biotech/Archaeology/Agriculture
    • Environment/Climate Change/Forests
    • Fisheries & Oceans
    • Sci & Res
    • Technology & Innovation
  • Humanitarian
    • Domestic/Sexual Violence
    • FAO of UN
    • First Nations
    • Gender issues >
      • National Gender Issues
      • Global Gender Issues
    • Human Rights/Child rights
    • Human Trafficking
    • Humanitarian Aid
    • Immigration/Refugees/Citizens
    • Floods/Fire/NaturalDisasters/Accidents/Deaths
    • Peace/Security/Gun Violence >
      • Global Peace/Security/Gun Violenece
      • National Peace/Security/Gun Violence
    • Pride Toronto
    • Racial diversity
    • SDGs
    • UN Affairs
    • Women rights
  • Multimedia
    • ILO Videos
    • Lib of Congress Videos
    • News in photos
    • UN Photo Stories
    • UN videos
    • UNHCR Videos
    • Videos
    • WHO Videos
  • NASA Photo Stories