Somewhat CBC you played important role in govt massive spending during pandemic, you overblown covid news every day since March 2020, and next day your boss Trudiot open his door and come and advertise give away money, one important thing CBC channel is not allowed in my home
Blablabla - the only point 'The housing market, it's an important part of the economy,' Macklem said. 'We are watching it closely, but our focus ultimately is on the whole economy and in getting inflation back to target.' inflation hurts all, not just home home owners.
Depends..is it a short term “investment” or a long term home. If latter, you’ll eventually get your equity back over time.
It’s called stress testing. There’s a younger generation that has only known low interest rates and in certain Canadian cities, market values always increasing. We cannot destroy Canada’s economy if we need to increase interest rates. This is high drama.
You should buy a house for long term, to live in it and make it your home not for speculation and short term gain and why exactly you say specifically young people is besides me
It doesn’t have to be. Borrowing to own a home is different then speculative borrowing which is the real culprit of inflation. The BoC could be creative by holding single home ownership and only raising rates on any other borrowing preventing people from loosing their home
It is wrong and if this inflation is actually a global phenomenon then we need to raise salaries like in the early 80’s and make small moves in interest. People used to make 5000 a year and movies at the theatre were 25 cents. As inflation hit the salaries rose.
Welcome to ten years of buy high/sell low real estate investing.
3/ To burst the housingbubbles and bring real estate prices down – we need far more innovative approaches to solve the problems. And I described just a few such solutions that work…
2/ In addition, higher interest rates affect the entire economy and not just the housing market – so it will bring a whole slew of unintended consequences with it...
1/ There is no doubt in my mind that rapid interest rate increases will slow down house purchases. But it will mostly occur due to the higher costs of mortgages and affect the young families that need the home the most...
Justinflation
I understand the concern\\stress this is. But, never since I owned a house has mortgage % rates been this low. Those older must remember rates from 8.5 to as high as 17%. Did you not say to those younger.“ I remember when…” forewarning them?
Current inflation is global, supply side. Energy, commodities, shipping. Fear, greed, covid, and politics. Tightening domestic money supply to try and depress global markets in this climate will be the costliest mistake ever made.
Interest rate hikes will simply add to pain of inflation for consumers while their assets devalue.
Canada’s financial inability
Don’t worry Trudeau has your back ….as he takes more tax from you !!!! Lol
“Bank of Canada says financial system is sound, but the overborrowed may suffer” Only a small, fringe minority again, I’m sure.
' Canadas financial stability '
You will go bankrupt...own nothing...and Justin will be happy ?
Sheep who believe government lies on the economy instead of questioning the government endless printing press of money especially the last 2 years ..
Or the dark money that jacked up the prices
That's what ppl get for electing irresponsible governance. When inflation is around 20% well all have some restructuring to do.
So people who panicked and bought houses at inflated prices should be bailed out? And those who didn't can just keep paying rising rents?
On the good news side, just like I did in the USA, I will pick up a property or 2 for half of what it’s worth.
If you bought a $250000 house for over $900000 then it’s your own damn fault!
This is not a surprise at all