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VULNERABLE364 evictions.29 However, neither the federal government nor most pro- vincial/territorial governments have provided protection from evic- tion for tenants post-pandemic. This means Canada may see a wave of mass evictions when public health orders are lifted and landlords demand back pay for rent arrears.30 When asked whether the fed- eral government would provide rent relief to tenants, Prime Minister Justin Trudeau responded, “If provinces, in whom the relationship between renters and landlords is their jurisdiction, want to move for- ward with more help for residential rent, they can of course do that.”31 In contrast to the challenges low-income renters currently face, COVID-19 is presenting financial actors with further opportunities to cannibalize the Canadian housing market for profit. By spring 2020, the Bank of Canada had already brought in BlackRock (the world’s largest asset manager) to assist in developing an economic recovery plan, with direct bearing on Canada’s housing market.32 Like the financial crisis of 2008, COVID-19 provides real estate investment trusts (REITS) and private equity firms the opportunity to capitalize on distressed assets in the housing market by purchasing cheap debt (foreclosed mort- gages) from banks and other lenders. Speaking to this opportunity in the American context, David Schechtman of the Meridian Capital Group stated: “Our thoughts and prayers are with all of our fellow Americans and nobody wants to capitalize on anybody’s misfortune. But I will tell you, real-estate investors—when you take the emotion out of it—many of them have been waiting for this for a decade.”33 29. “COVID-19: Eviction Bans and Suspensions to Support Renters” (25 March 2020), online: Canadian  Housing  and  Mortgage  Corporation <www.cmhc-schl.gc.ca/en/ rental-housing/covid-19-eviction-bans-and-suspensions-to-support-renters>. 30. See e.g. Alastair Sharp, “Toronto Renters in for a ‘Bloodbath’ of Evictions after Pandemic Ends, Advocate Warns”, Toronto Star (22 May 2020), online: <www. thestar.com/news/canada/2020/05/22/toronto-renters-in-for-terrifying-blood- bath-of-evictions-after-pandemic-ends.html>. 31. See Trudeau quoted in Jennifer Pagliaro, “Nearly Half of Canadian Tenants Fear They Can’t Pay Rent on May 1—and Provinces, Feds Can’t Agree on Where Relief Will Come From”, Toronto Star (29 April 2020), online: <www.thestar.com/ news/city_hall/2020/04/28/as-may-1-nears-tenants-and-landlords-worry-about- lack-of-rent-relief-from-queens-park-ottawa.html>. 32. Kevin Carmichael, “Why the Bank of Canada Needs BlackRock’s Help While Fighting the Coronavirus Downturn”, Financial Post (1 April 2020), online: <busi- ness.financialpost.com/news/economy/why-the-bank-of-canada-needs-black- rocks-help-while-fighting-the-coronavirus-downturn>. 33. Konrad Putzier & Peter Grant, “Real-Estate Investors Eye Potential Bonanza in Distressed Sales”, Wall  Street  Journal (7 April 2020), online: <www.wsj.com/articles/ real-estate-investors-eye-potential-bonanza-in-distressed-sales-11586260801>.