Comments on: The Bank of Canada Doubled Interest Rates, Here’s What It Means For Real Estate

By: Brandon

Brandon — Wed, 02 Mar 2022 22:27:57 +0000

In reply to Vishal. Rate history since 1990... That wasn't true prior to that (see 1970's).

By: Woolsock

Woolsock — Wed, 02 Mar 2022 21:32:18 +0000

Wow, some day soon I might actually be able to charge my bank interest when I give them a pay-day-loan.

Nah! They’ll just up their monthly fees instead.

By: Franco

Franco — Wed, 02 Mar 2022 19:22:09 +0000

In reply to Vishal. Why not raise it to 5 percent to kill this nonsense housing market once and for all.

By: Jim Straughan

Jim Straughan — Wed, 02 Mar 2022 18:11:34 +0000

In reply to Lou Chao. LOL only ones with keys. Brilliant !

By: Mike

Mike — Wed, 02 Mar 2022 18:10:53 +0000

Holding interest rates too low, for a long period of time made home prices unaffordable and overvalued. Who can afford such prices in the market! 🙁

By: Agent bob

Agent bob — Wed, 02 Mar 2022 17:39:55 +0000

Evening BOC raised rates to 2.5% it wouldn’t have a huge effect on a lot of investors, money launderers and non residents that buy with mostly dirty money.
Putting 2 year moratorium on non residents and crack down on dirty money.

By: Patrick

Patrick — Wed, 02 Mar 2022 17:39:15 +0000

In reply to David Chan. Doesn't include used cars either, which are basically double what they were last year. If you can find one. Some used cars for recent models have been selling more than new with a few thousand clicks since the wait is undetermined.

By: David Chan

David Chan — Wed, 02 Mar 2022 17:37:25 +0000

In reply to Erik. Even worse Stat Can didn't have home resales in the CPI index until 2017 or 2018? Sure, Canada has low inflation all the time if you don't include the cost of all the stuff.

By: Erik

Erik — Wed, 02 Mar 2022 17:36:12 +0000

Holy SHEEEET, those links at the end. So they had no idea they impacted home prices at all? This is mind numbing incompetence.

By: Vishal

Vishal — Wed, 02 Mar 2022 17:33:25 +0000

In reply to Marc. If you look at Canada's rate history it never gets back to pre-recession levels. The rate peaks at 50 to 75% of the pre-recession levels since the gov "recovers" by borrowing, and getting households to borrow , more debt. Increased weight with every generation should be considered generational looting.