If We’re In A Recession, Why Is There So Much Demand for County Real Estate?

Image shows Frances Donald, Chief Economist for Manulife Investment Management

On Thursday of this week, I have the priviledge of taking part in a (virtual) panel discussion about the Covid-19 impact on real estate and short-term rentals in particular.

The panel will be part of the Toronto Real Estate Summit organized by the Toronto-based MoveSmartly web site. (Full disclosure: I contribute to MoveSmartly from time to time on real estate in Prince Edward County.

It’s free to register for the Summit and if you can’t catch the different sessions when they’re live, you can view them all in video.

Of course I would like it if people listened in to the panel I’m part of called “Airbnb vs Long-Term Rentals” on Thursday from 11:00 am to noon.

However, if you have limited time that you can devote, you should skip my session altogether and go to the video from yesterday (July 20th) at 10 am.

The presenter, Frances Donald, did not just fall off the hay wagon: she is Managing Director, Global Chief Economist & Global Head Of Macroeconomic Strategy, Manulife Investment Management.

Her session is called “The Stall Out: Why the Post-COVID Economic Recovery Will Be Troubled”. She is an outstanding speaker and her session explains in down to earth language why Covid-19 is producing contradictory trends like increasing real estate sales during a pandemic-trigger recession.

Regular visitors to this web site will know that I have counseled buyers to exercise caution in the current real estate market.

Her presentation provides a compelling explanation of the Covid-19 impact on real estate and why caution is in order for buyers.

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