Marc Hoe Financial Advisor
90 Market Ave R3B0P3 Winnipeg, MB, Canada

CMHC projecting major issues for Canadian Real Estate. They are projecting a drop in home prices to vary from between 9-18%. Are you concerned at all about home prices and where we are heading?... Are you holding off on some large projects to prepare for a major downturn in our economy? Tough questions to consider.

Some food for thought when considering where our economy is headed. The government support has staved off many insolvencies in the short term - however, are Canadians headed to greater issues in the future. The government can only buoy Canadians financials for so long. My concern is in the late summer/early fall, when the debt deferrals are coming home to roost, how will those afford to pay?

I received this email outlining the specific financial support that the government of Canada has created during these uncertain times from the Manulife Group Insurance department. If you have any questions, please feel free to let me know. Temporary Income Support for Workers and Parents For Canadians without paid sick leave (or similar workplace accommodation) who are sick, quarantined or forced to stay home to care for children, the Government is:... Waiving the one-week waiting period for those individuals in imposed quarantine that claim Employment Insurance (EI) sickness benefits. This temporary measure will be in effect as of March 15, 2020. Waiving the requirement to provide a medical certificate to access EI sickness benefits. Introducing the Emergency Care Benefit providing up to $900 bi-weekly, for up to 15 weeks. This flat-payment Benefit would be administered through the Canada Revenue Agency (CRA) and provide income support to: Workers, including the self-employed, who are quarantined or sick with COVID-19 but do not qualify for EI sickness benefits. Workers, including the self-employed, who are taking care of a family member who is sick with COVID-19, such as an elderly parent, but do not quality for EI sickness benefits. Parents with children who require care or supervision due to school closures, and are unable to earn employment income, irrespective of whether they qualify for EI or not. Application for the Benefit will be available in April 2020, and require Canadians to attest that they meet the eligibility requirements. They will need to re-attest every two weeks to reconfirm their eligibility. Canadians will select one of three channels to apply for the Benefit: by accessing it on their CRA MyAccount secure portal; by accessing it from their secure My Service Canada Account; or by calling a toll free number equipped with an automated application process.