The risks to Canadian finances will remain pronounced even during the recovery phase once the coronavirus crisis passes, according to Deloitte Chief Economist Craig Alexander.<\/p>\n
\u201cOne of the great legacies of the current crisis is that after the pandemic has passed, we\u2019re going to have more indebted households,\u201d Alexander told Yahoo Finance Canada earlier this week. \u201cSo I think the issue around leverage isn\u2019t going to go away; in fact, I think it will become more acute.\u201d<\/p>\n
Compounding the issue is , which already reached a record high even before the COVID-19 pandemic took hold of the global financial system. is also placing many households\u2019 long-term economic prospects in doubt.<\/p>\n
However, Canadians might find a measure of respite: Susan Hosterman of Fitch Ratings said that so far, the impact of the coronavirus is not likely as severe as that observed in the United States more than a decade ago.<\/p>\n
\u201cI definitely feel like we\u2019re not going to see the delinquency rates that we saw in the US during the financial crisis. It\u2019s not going to be anywhere near that,\u201d Hosterman said. \u201cI don\u2019t think we\u2019ll see those levels with just how proactive the banks are being with working with the borrowers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The risks to Canadian finances will remain pronounced even during the recovery phase once the coronavirus crisis passes, according to Deloitte Chief Economist Craig Alexander. \u201cOne of the great legacies of the current crisis is that after the pandemic has passed, we\u2019re going to have more indebted households,\u201d Alexander told Yahoo Finance Canada earlier this […]<\/p>\n","protected":false},"author":5,"featured_media":22651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8723"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=8723"}],"version-history":[{"count":1,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8723\/revisions"}],"predecessor-version":[{"id":22650,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8723\/revisions\/22650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/22651"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=8723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=8723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=8723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}