In this extremely important episode, Carmen and Jordan meet with the Deputy Chief Economist of CIBC World Markets, Benjamin Tal. Well known for his groundbreaking published research on topics such as labour market dynamics, real estate, credit markets, international trade, and business economic conditions, today Benjamin shares with listeners the current economic outlook of Canada in these highly unprecedented times. He also shares his valued take on the real estate market in 2021 and beyond, and sheds light on where some real estate investment opportunities may present themselves in the current climate. Benjamin Tal is truly an expert in his field with a wealth of information and advice to share – this is one episode you cannot afford to miss.

Episode Highlights:

·   Benjamin’s perspective on the economy in 2021 ·   The impact of the crisis on the real estate market ·   His thoughts on the short and long term for the economy and real estate ·   The 2 different real estate markets ·   The impact on builders and developers ·   Bringing the equilibrium back to normal ·   The most advantageous real estate investments now ·   The office building market ·   His thoughts on inflation in the future ·   His advice for listeners   Quotes:    “We are going through the ‘mother of all recessions’.”   “This was the most real estate friendly recession ever.”   “All the jobs that were lost during this crisis were lost among low wage occupations – most of them are renters.”   “There is 1/3 of the economy still stuck in this ‘L-shape’ recovery.”   “You will see the Bank of Canada not touching interest rates until 2023.”   “There is more activity in the more expensive, larger segment of the market.”   “Every crisis is a trend accelerator.”   “This means that the condo space will start softening very, very soon…I’m seeing clearly a market that is going to adjust.”   “I think that we will see a very strong recovery in the economy in the second half of 2021 into 2022.”   “We tend to exaggerate things when we are in a situation, and we are in a situation now.”   “The rental market has been on fire until the crisis started, so it’s going down to normal levels.”   “The concept of rush hour seems so primitive now.”   “I’m not losing sleep over inflation any time soon.”   “Let’s view the situation from a long term perspective and see what makes sense and what doesn’t.”   Links:   30 Minutes to Wealth homepage:  https://www.30minutestowealth.com/