BIV reporter Tyler Orton tackles the following stories:
-The nation’s housing agency is warning mortgage delinquencies are set to surge as Canadians defer payments and pile up debt during the pandemic (to the tune of $1b/month). I’ll discuss why the situation is set to become more precarious beginning Oct. 1.
-Greater-than-expected job losses have pushed RBC to downgrade the B.C.’s economic growth prospects. The move comes the same day the provincial government revealed it’s projecting a $12.8-billion deficit and I’ll explain why the government’s predictions for growth this year are even more pessimistic than the bank’s.