Archive for March, 2020

Market Update ? The Coronavirus Impact on Bitcoin

Saturday, March 21st, 2020

Bill Barhydt
other

We hope everyone in the extended Abra community is safe and are following the recommended guidelines for getting through this crisis. We know this is a difficult time for everyone and our thoughts and prayers are with everyone such that we can all get through this together as quickly as possible. Stay home and stay safe!

Team Abra is fully up and running and our systems are processing more transactions than ever. Our team is working remotely but hasn’t missed a beat in continuing to offer the great service we have for the past three years.

Bitcoin has seen its wildest couple of weeks in years. After plummeting almost 50% in the past month it has now climbed over 25% in the past week. It’s safe to say volatility has returned to Bitcoin after months of relative calm.

Bitcoin price chart for the month of March

Why I’m more bullish on Bitcoin now than a week ago…

  1. Quantitative easing coming  Expect to see $5-10 Trillion globally in new money being printed to deal with the deflationary pressures of the Coronavirus disaster. That means people will be seeking out appreciation and yield to address this new dynamic. This could be the time Bitcoin finally becomes more correlated to gold and less correlated to discretionary investment spending.  There is way more gold to go around than there is Bitcoin.  This could lead to an explosion in Bitcoin’s price.
  2. Bitcoin halving is less than two months away The new supply of Bitcoin created every month is about to be cut in half. This is going to be a big shock to the mining community as well as the investment community and hasn’t been priced into Bitcoin at all in my opinion. Given quantitative easing’s effect of pumping out massive amounts of cash and driving demand for deflationary assets there simply won’t be enough Bitcoin to go around. This could lead to an explosion in Bitcoin’s price.
  3. More awareness for Bitcoin as a hedge against currency inflation Currency inflation drives the value of your investments towards zero over the long term. I expect more fiat currencies to fail in the next 2-4 years. The Euro is clearly at risk. This could lead to negative bank rates and super high lending rates and create a huge strain on the banking system. People will be looking for a safe haven for their investment dollars. This could lead to an explosion in Bitcoin’s price.
  4. Exciting new opportunities for earning with Bitcoin People are waking up to the idea that you can earn money with your Bitcoin beyond just price appreciation. Look for more announcements from Abra in this area very soon! This could lead to an explosion in Bitcoin’s price.

Bitcoin price fluctuations will be dramatic in the next few weeks. But the mid term outlook for Bitcoin is better than ever. There are no guarantees in life but I’m convinced that having at least 10% of my assets in Bitcoin is the right play for me.

We want to hear from you. You can reach me online on twitter at @billbarhydt or you can reach the Abra team @AbraGlobal or @abra_Support. Of course you can email us anytime at [email protected]

With peace and love…

Bill

Copyright 2019 Plutus Financial, Inc.

Canada’s Six Big Banks Delay Mortgage Payments Due to COVID-19

Friday, March 20th, 2020

Here’s the latest update on what the big banks of Canada are doing amid COVID-19 outbreak

Justin Kerby
REW

In an unprecedented display of coordinated assistance, Canada’s six largest banks will begin offering customers more relief options in response to the COVID-19 pandemic. President and CEO of the Canadian Bankers Association Neil Parmenter tweeted links to coordinated press releases from Canada’s six big banks, announcing “a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges.” 

The Commitment

The coronavirus pandemic creates many challenges for Canadian homeowners that include not only battling the illness itself but also pay disruption and childcare disruption due to school closures. It’s an emergency that requires immediate action from financial institutions. 

In light of these challenges, Bank of Montreal, CIBC, National Bank of Canada, RBC, Scotiabank, and TD Bank are committing to offer financial assistance to customers facing challenges. Most notably, “This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.” It’s a big move for Canada’s major financial institutions during uncertain times. 

Delayed Mortgage Payments Explained

While some lenders already give homeowners the option to press pause on their mortgage payments or personal loans in case of life emergencies, the latest announcement from Canada’s big banks gives even more options to Canadian borrowers. If you’re considering taking advantage of this offer, here’s what you need to know. 

1. When You’ll Owe 

Typically, deferred mortgage payments are tacked on to the end of your mortgage term, essentially postponing your payments for a later date. 

2. Get the Whole Picture

It’s important to speak to your bank about the long-term effects of deferred mortgage payments. In many cases, interest accrued during periods where you defer payments can be added to your principal. 

None of the big banks addressed in their joint press release whether payment deferrals would be interest free or not, so don’t make any assumptions. Ask if payment deferrals are interest free and see if you’re able to contribute a one-time lump sum payment at a point in the future when your financial situation returns to normal – this will help minimize any excess interest associated with deferring payments. 

3. When to Inquire

If you believe that COVID-19 or its effects could impact your ability to make a payment in the future, reach out to your bank now. It’s important you begin the process before you start missing payments to put yourself in a more manageable situation. 

Who Benefits

Offering the ability to delay mortgage payments is a huge announcement that will impact the Canadian economy as a whole during what many are calling a financial crisis. Here are a few of the population segments that financial institutions are helping get through this pandemic from an economic standpoint. 

Homeowners

Should homeowners need assistance during these extraordinary times, they’ll be able to contact their bank and defer mortgage payments. This is also true for customers who belong to some Credit Unions, including Vancity who announced they would also offer delayed mortgage payments. This gives more financial flexibility to those facing challenges resulting from the COVID-19 crisis, keeping them in their homes without fear of missing payments or foreclosure. 

Business Owners

Delayed mortgage payments give homeowners who also run businesses the opportunity to focus their efforts and resources on their businesses during these challenging times. Keeping businesses open and operating keeps the economy moving and workers employed. 

Workers

Workers in the tourism and hospitality industries will be some of the hardest hit by the economic impacts of the coronavirus, and delayed mortgage payments will help them adjust for any loss of work. 

What to Expect From the Banks 

While they may typically view each other as competitors, the six big banks in Canada are acting as a united front to provide financial relief to Canadians through measures such as offering delayed mortgage payments. More than that though, they’re also working together to help limit the spread of coronavirus. 

In accordance to the recommendations of Canada’s public health authorities, the big banks are committed to “taking new coordinated measures to support social distancing to control the spread of COVID-10.” Banks will be limiting operating hours and closing branches that don’t offer critical services. Special care will be given to branches in rural communities where options are limited, and while not all details have been made clear, dramatic moves are being made to limit in-person banking options while also establishing a “reserve” of healthy employees to take care of essential services. 

Bank of Montreal is temporarily closing roughly 15% of its branch network in Canada, while CIBC will do the same for over 20% of its network. The Canadian Bankers Association has stated that the banks will also be working together to limit hours, with CIBC reducing its weekday hours from 10:00 AM to 4:00 PM. 

What it Means For Canadians

Overall, the ability to delay mortgage payments for up to six months is one of many important economic announcements Canadians have seen as of late. COVID-19 was listed as the main reason for an emergency rate cut from the Bank of Canada on March 4, as concerns over a possible recession and low oil prices loom. 

Sellers should see more potential buyers enter Canada’s housing market due to low interest rates, homeowners can consider switching (if possible) into a lower fixed rate or delaying mortgage payments should they run into economic challenges, and despite a delay, changes to the mortgage stress test are coming which should allow first-time buyers to enter the market more easily. We’re expecting more announcements in the coming weeks from financial institutions, policy makers, and the Bank of Canada, subscribe to our newsletter and never miss an update.

© 2020 REW. A Division of Glacier Media.

COVID-19: How real estate agents can keep safe during the outbreak

Friday, March 20th, 2020

Real estate agents are making the best of a bad situation

Steve Randall
Canadian Real Estate Wealth

We should now be heading towards a peak in the Canadian housing market; instead we are in the midst of an unprecedented public health and economic crisis.

But home buying and selling continues and while we can’t know what impact COVID-19 will have on the market overall, real estate agents are making the best of a bad situation.

For those working on the front line, there is risk. But one of Canada’s largest real estate industry bodies has offered advice to help keep real estate agents safe.

Toronto Regional Real Estate Board (TREBB) is advising that agents ask clients about recent travel, especially to and from areas with high-levels of the coronavirus infection. They may want to avoid face-to-face contact with those more likely to be infected.

Should open houses be cancelled? Open houses pose a particular risk for real estate agents, their clients, and visitors.

TREBB advises that agents should have a frank conversation with clients about the pros and cons of open houses at this time. Other marketing methods should be considered including video tours.

If they do decide to proceed, then key health and safety measures should be deployed:

  • Use disinfecting wipes to clean commonly-shared surfaces like door handles;
  • Restrict open house attendance to one group at a time;
  • Ask visitors to limit physically touching items in the home;
  • Refrain from greeting others with handshakes or hugs;
  • Encourage clients to thoroughly clean and disinfect the house after open houses or viewings;
  • Request clients or attendees to notify their Realtor if they become ill within two weeks of an open house or showing. If an attendee does become sick or is diagnosed with COVID-19, communicate this with the homeowner and other attendees if possible; and
  • Avoid sharing items such as phones, tablets or laptops.=

Social distancing – keeping at least 2 metres from others – is also advised in accordance with public health agencies’ advice. So too, is self-isolation for those that are sick.

Copyright © 2020 Key Media Pty Ltd

Interest rates on new mortgages increasing, despite Bank of Canada rate drop

Friday, March 20th, 2020

Advertised interest rates for new mortgage applications have been climbing

Joannah Connolly
Western Investor

With the Bank of Canada dropping its overnight rate by a full percentage point this month in response to the COVID-19 pandemic, it would seem to be a great time to shop for a new mortgage

Not so, according to mortgage experts. In fact, advertised interest rates for new mortgage applications have been climbing significantly over the past few days.

In its March 19 update, mortgage comparison website RateSpy.com wrote as an example that TD Bank had just increased its advertised rates: • three-year fixed: from 2.69 per cent to 2.89 per cent • five-year fixed (high ratio): from 2.69 per cent to 2.79 per cent • five-year variable: from 2.85 per cent to 2.95 per cent (no discount on the bank’s prime lending rate)

Alisa Aragon, mortgage broker with Dominion Lending Centres Mountain View, told Glacier Media in an interview March 20, “Lenders started increasing rates last Friday [March 13, the same day that the Bank of Canada made its emergency cut to the overnight interest rate]. That includes major lenders such as Scotiabank, TD, RBC. They’ve also been reducing variable-rate mortgage discounts on the prime rate, which is currently 2.95 per cent, so the discount on most variable rates is barely anything. In the future, we could see no discounts at all.”

She added, “The fixed rates are usually connected to the bond market, but because banks need liquidity right now, they’re increasing the rates.” The bond market had previously dropped in line with the central bank’s interest rate, but has also rebounded over the past couple of days. 

Liquidity for the banks is a key issue for the federal government right now, which announced March 20 that it is introducing “changes will help provide stable funding and liquidity to financial institutions and mortgage lenders and support continued lending to Canadian businesses and consumers.”

This follows an announcement by the Ministry of Finance that it is launching “a $50 billion Insured Mortgage Purchase Program (IMPP)… The amendments allow mortgage lenders to pool previously uninsured mortgages into National Housing Act Mortgage-Backed Securities for CMHC to purchase these securities through the IMPP.  The impact of this measure will provide financial institutions with more liquidity. This, in turn, will allow financial institutions to continue lending to businesses as well as individuals, while assisting customers who face hardship and need flexibility, on a case by case basis.”

By insuring previously uninsured mortgages, the government is essentially taking on the risk associated with those loans, freeing up banks’ balance sheets to provide more liquidity. The moves are intended to support banks while they offer such programs as six-month deferrals of mortgage payments to customers facing financial hardship due to the COVID-19 pandemic.

However, Aragon said that the program would not necessarily prevent banks from raising mortgage interest rates. “It depends on the bank’s balance sheets, every bank is different,” she said. “These are unprecedented times.”

Even though rates for new mortgages are currently rising, applicants are rushing to get a mortgage on the back of news that the Bank of Canada has slashed its overnight rate.

RateSpy’s March 20 update added, “Nearly every long-time mortgage broker we’ve talked to is swamped, with some saying they’re having their highest application volume ever for a March.”

Aragon is one such busy mortgage professional. She told Glacier Media she is also fielding countless calls from people who are asking about possible mortgage deferrals, even when they haven’t lost their jobs. She added that some are hoping to stop paying their mortgages so they can use the money to invest in the stock market while it is depressed. “That’s not how you do it,” she added. “These deferral programs are really for people who are struggling financially due to the pandemic, and those customers will be required to provide proof of hardship.”

RateSpy’s March 20 update confirmed this trend, saying, “We’re hearing of cases where people are using HELOCs [home equity line of credit] to buy stocks. These are presumably (hopefully) well-qualified, risk-tolerant clients with financial safety nets. It’s definitely not a strategy for the overwhelming majority.”

Copyright © Western Investor

Quarter-acre East Vancouver land parcel assembled for $6.6M

Friday, March 20th, 2020

Parcel in Little Mountain area has potential for more than 35,000 square feet of multi-family development

Stanley Chiu Howard Mak Gammon
Western Investor

A 0.25-acre land assembly in the Little Mountain area of East Vancouver, zoned for increased density, has been bought for $6.6 million, reports Gammon International Real Estate Corp. The parcel has potential for more than 35,000 square feet (gross) of multi-family development.

Breakdown:

Property type: Land assembly [multi-family]

Location: 4697 – 4987 Main Street, Vancouver

Number of units: 16

Land size: 0.25 acres, 11,094 square feet

Zoning: RM-3A (up to six-storey; 35,058 square feet, gross)

Additional: Assembly included adjacent lot already held by buyer at 5107 Main Street

Date of sale: February 28, 2020

Sale price: $6.67 million

Brokerage name: Gammon International Real Estate Corp., Vancouver

Brokers: Stanley Chiu and Howard Mak

Copyright © Western Investor

The Best Tips for a Quick Home Office Set-Up

Friday, March 20th, 2020

REW

You’re suddenly faced with the need to WFH. Here are some essential elements you need to enhance productivity in your (new) home office.

By REW (Real Estate Wire) Mar 21, 2020

Working from home has become our new norm. There are many new factors to this change in working life, from sharing the same space as the rest of your family or roommates to increased noise/distractions to the need for more personal, focused space. These extra challenges need unique solutions.  

Don’t worry – there are plenty of things you can do to make sure your office space is an oasis of productivity and creativity.

  1. Prioritize. No at-home office has it all

What are your goals for this new space?

  • Will you need to be on the phone or webinars? 
  • Do you need to have a creative space? 
  • Do you need quiet or is a little noise, okay?
  • What do you want to look out to? Wall, window, art?

Decide if your work can handle a bit of distraction by household foot traffic or if total isolation is required.

  1. Choosing the Right Location

Then select an area in your home that will maximize those requirements. It often helps to have a conversation with others in the household about your professional space. When you are working, you will need them to respect your boundaries. 

If you have a dedicated office with a door and everything, then congratulations, you are miles ahead of many who fight for a quiet workspace – I included. When you close the door, it certainly sends a clear message that there is work in progress. 

If you have to set up shop in common use space, however, there are a few things to consider:

  • Try choosing an area with the least amount of traffic to minimize distractions.
  • If you are taking over a corner of a room like a kitchen or living space, you may want to invest in good quality noise-cancelling headphones. When they are on, it means you are in business.
  • Define your office hours for you and with family members. This conversation will go far in assisting them in respecting your working hours. It will also help you maintain your work/life balance that sometimes gets lost when you work from home.
  • Create a sign on your door or wall with your “do not disturb” or “working hours.”  Sharing a space may mean defining your boundaries.

 

  1. Clutter and Organization

This point is particularly crucial if you have an open space in your home. You will want to keep it clutter-free to minimize the messiness when you have visitors. Plus, less clutter will keep the area open and give a more substantial feeling. Having a bunch of clutter will continuously remind you there is work to be done.

Less paper means less clutter

You may want to consider going paperless or at least decreasing the amount you need. In today’s environmental climate, it’s certainly a hot topic. Consider external hard drives and digital storage devices for this purpose. Not only will they keep the space bright and clutter-free, but they are more mobile too.

Organization goes hand-in-hand with decluttering your space. The more you can keep everything in its place, the better. It will also give the illusion of more space.

  • Manage your cables – you can use a power strip that keeps all your cables nice and organized, but twist-ties work great too. 

The tubes can be easily labelled, so you don’t end-up under your desk, stuck, trying to figure which cable to unplug. Make sure they stay neat and in order. This simple tip will allow for a cleaner space and take away the clutter.

  1. Functionality and Focus

Be purposeful when deciding the function of your space. If the office is serving multiple purposes, it will be tough to focus. It can completely clutter your headspace. 

It is common for work at home moms to allow their children to occupy the office space. Before you know it, there are drawings, toys and arts and crafts sprawled over your month-end analysis. These may help:

  • Have a separate area or drawer for all their masterpieces and keep your home office well-defined for your purpose.
  • Choose the right furniture and go far in creating functionality.
  • Less is more when it comes to a small home office. By creating a simple, functional space, you will be able to stay focussed and productive.

“There are inexpensive units you can buy now that add to the overall décor of a room,” says Halifax Interior Decorator Genevieve Clarke. “By purchasing pieces that are specifically designed to house printers, files and computers, you can close the cabinets, shut the drawers when not in use.”

These units create a clean and organized feel.

Hand in hand with office equipment-specific furniture is the trick of going vertical. In other words, get rid of the sprawling desk, tables, multiple chairs, and tonnes of filing cabinets. Instead, consider shelves and wall cabinets that don’t take away the floor space, says Clarke.

Choose a smaller, wooden table with rounded edges to compliment the area and don’t forget to make use of the space under the desk.  

  1. Colours, Creativity, and Décor with a Difference

Decorate strategically. Be thoughtful in your choices.

Colours are powerful. Make this space your own and a place where you can be creative and productive. Choose colours that suit your taste and make you feel like you want to be there. Don’t feel like repainting? Here are some removable wall stickers that you can put up yourself.

Starting at a blank wall stifles you. Consider getting a cheap(ish) art piece you can hang near your desk. 

  1. Bring the Outdoors in with a Wood Element

According to one of the principles of Feng Shui, you may want to incorporate a wood element into your space. This natural element could easily be a small, wooden desk. Consider plants. They make the perfect pairing with wood elements.

“If you are adding in plants, keep them small and simple,” adds Clarke.

Not only will the greenery add an unobtrusive colour to the room, but plants will also give a sense of warmth and energy. Plants oxygenate a small place, helping you stay alert and awake. They can also increase the humidity around your desk and remove toxins from the air.

Extra Tip: Succulents are perfect for indoors and office spaces, and very affordable too.

  1. Natural Light is Naturally Beneficial

According to a study published in the Journal of Clinical Sleep Medicine, allowing natural light in a home office will increase productivity. Have your desk or chair facing a window or door with unobstructed views. Just make sure you don’t start daydreaming!  

This natural source of vitamin D will increase your happiness level, helping you keep calm and creative, and boost your immune system – which we all need right now, am I right?

If you do work nights, make sure you have a work lamp at your desk and a soft light that’s not too harsh on your eyes.

Extra tip: Blue light blocking glasses are definitely a must in this case too. You can find them on Amazon in various shapes and prices.

Other Things to Consider When Working From Home

  • Get started early
  • Act like you are at the office. This means to wake up and get ready for the day (shower, dress, etc) 
  • Set up a daily routine – Get your creative work in the morning with a fresh mind and leave the tasks for later in the day. You’ll end up being more productive.
  • Schedule your breaks – as much as we all need to stay inside, there are ways to maintain social distancing and still breathe some fresh air and move around.
  • Take a walk – or exercise indoors – and stay hydrated.
  • Reconnect with friends and family through calls, text, and videos.
  • Stay hopeful and surround yourself with positive people and positive information.

Creating a home office can be fun. Take the opportunity to use your creativity in creating a work oasis. Make it a place where you can nurture your professional development, boost your productivity, and find energy in your work. 

Be safe everyone!

© 2020 REW. A Division of Glacier Media

Some buyers plan to be big fish in a smaller pool of competition

Thursday, March 19th, 2020

With less competition some buyers are looking for advantages

Steve Randall
REP

With disruption to the Canadian real estate market due to the coronavirus crisis, some buyers are seeing an opportunity.

An expected slowdown in activity means less competition for those still keen to buy, although for sellers it may mean some tough tactics being deployed by buyers.

“Some of those buyers are seeing the slowdown as a way to compete without too many people,” John Pasalis, president of Realosophy Realty, told Bloomberg.

Some big deals are still going ahead; a Vancouver mansion selling for $150K over asking price; a $2m sale in Montreal based on a virtual home tour; a $2.3m sale for a Vancouver home, that still attracted 85 people to an open house at the weekend despite virus fears.

While open houses and other typical aspects of the home selling process are being disrupted, it appears that there are still buyers taking the long-term view and completing deals.

Royal LePage broker Adil Dinani told Bloomberg that he is still doing 90% of the deals expected and hopes that lower mortgage rates will continue to fuel activity.

Copyright © 2020 Key Media Pty Ltd

Canadian consumer confidence takes unprecedented slump

Thursday, March 19th, 2020

Index of Consumer Confidence slumped 32 points

Steve Randall
REP

A measure of Canada’s consumer confidence has reported its biggest drop ever amid the COVID-19 pandemic.

The Conference Board of Canada’s Index of Consumer Confidence slumped 32.0 points this month, an unprecedented decline. There were no positives, with every region posting double-digit decreases and each question garnered weaker responses.

“COVID-19 is causing anxiety in Canadians and this has implications for Canada’s economy given that consumers have been the main engine of economic growth, said Pedro Antunes, Chief Economist for The Conference Board of Canada. “With many people self-isolating, large gatherings mostly cancelled and tourism activity drying up, many Canadians are staying home, which will have a profound impact on economic growth.”

Atlantic Canada and Quebec each saw their largest monthly declines ever. Ontario, British Columbia and Saskatchewan-Manitoba all saw their second largest, while Alberta saw its fourth largest.

A recent Conference Board report said that the Canadian housing market will still have a “big year” despite the current gloom.

Worsening finances
Nationally, almost 21% of respondents expect their finances to be worse in six months, with less than 20% expecting improvement. This flips around from February when more than 24% were expecting finances to be better in six months while less than 15% were pessimistic.

Copyright © 2020 Key Media Pty Ltd

Investor demand for apartments heightens in Vancouver

Thursday, March 19th, 2020

Multi-family homes on investor radar

Gerv Tacadena
The Vancouver Sun

The investor demand for multi-family homes in Metro Vancouver appears to have surged after the recent lending-rate cuts, according to Western Investor.

The sudden interest in apartment buildings came amid the growing concerns about the potential impacts of the COVID-19 outbreak on the economy, said Mark Goodman, a principal at Goodman Commercial.

“Interest rates are dropping with no end in sight, which is fuelling the real estate market,” he said in a report in Western Investor.

In an unexpected move, the Bank of Canada (BoC) has announced emergency changes to the monetary policy, lowering its target for the overnight rate by 50 basis points to 0.75%. This was the first time the BoC made an unscheduled rate decision since the financial crisis in 2009.

Since the BoC’s announcement, several banks have already announced discounts to their lending rates, allowing for a “sudden surge” in demand for apartments, said Goodman.

However, investors are more interested in large investment offerings that include development sites than in old rental buildings.

“This is counter to the weeks prior, when we were hearing that developers were done with Vancouver because of bad policies discouraging rental development,” Goodman said.

Recent figures from the Real Estate Board of Greater Vancouver (REBGV) showed that the sales for attached homes increased on an annual basis, up by 45.8% to 404. Homes in this segment had a benchmark price of $785,000 in February, which was a 0.6% increase from last year.

Copyright © 2020 Key Media Pty Ltd

Open houses in the time of COVID-19

Thursday, March 19th, 2020

Online transactions and a “no open house” policy will be in effect until the end of the pandemic

Duffie Osental
Mortgage Broker News

As new cases of COVID-19 increase across Canada, health officials are urging people to practice “social distancing” by keeping around two metres away from others, causing many real estate agencies to cancel open houses and ground-breaking ceremonies.

In Vancouver, several agencies have even started moving more of their transactions online in the interim. Dan Scarrow, president of Macdonald Real Estate Group, told Daily Hive Vancouver that more online transactions and a “no open house” policy will be in effect until the end of the pandemic. 

 “We are taking this issue extremely seriously and have instituted a ‘no open house policy’ for the duration of the pandemic,” Scarrow said. “The current policy of the Real Estate Board of Greater Vancouver is that they currently allow agents and their clients to make that decision, but I have been in touch with representatives from REBGV and am hopeful that they will do the right thing and suspend open houses for the time being.”

In another case, Homes by Avi in Calgary was forced to cancel catering for a grand opening of bungalows, instead diverting the order to the Calgary Drop-In Centre.

“It would have gone to waste had we not diverted it,” Kim Trim, marketing and communications specialist at Homes by Avi, told the Calgary Herald. “It was a nice treat for the residents, which was a bit of a silver lining to the pandemic.”

Copyright © 2020 Key Media