Comments on: Bank of Canada Is “Conditionally” Pausing Hikes, But What Does That Mean?

By: WS

WS — Wed, 08 Mar 2023 06:13:44 +0000

In reply to Ben Dover. I have to pay a few of my bills in US dollars. CDN to US exchange rate is absolutely atrocious at the moment. Interest rates will have to keep pace with US or things are going to get a lot more expensive for everyone. Unfortunately for you, a lot of folks here have no mortgage. They care about the cost of gas and cucumbers more than what you have to pay for your house.

By: Itchy Bear

Itchy Bear — Tue, 07 Mar 2023 21:42:09 +0000

In reply to Legume.

I was talking to a couple of my fathers friends who were in Toronto real estate in the 80s and 90s – and remember a lot of immigrants then were so underwater they just took everything they could and flew back to the old country. Their view was that a lot of immigrants today have access to much larger credit card limits/lines of credit…car loans, as well as mortgages, etc. The implication being that many people may max out whatever debt they can, take the spoils or cut their losses as circumstances warrant, and leave Canada.

It made me wonder if all these years with massive immigration, goosing GDP at the expense of GDP per capita, might be the trigger that ultimately gets this party (i.e. Canadian economic collapse) going.

By: Kate

Kate — Tue, 07 Mar 2023 19:15:43 +0000

I think this is b…t and they jut want to calm down people and hide something from public. They are talking about many thing which not happened and even a while ago they were say everything is ok and there is not inflation and other issues.

By: FALL

FALL — Tue, 07 Mar 2023 15:27:25 +0000

we need at least 6~7% to tame the CPI @ 2% range.
it just has started and you will see.
2nd half of this year will be fun in RE market.
there is no empire that will last forever.

By: J

Tue, 07 Mar 2023 13:26:04 +0000

LOL, they wanted more inflation and overshot. Now, they’re afraid of overshooting the other way. Funny thing is, all historical data points to rates needing to be higher than inflation to break the inflationary spiral. This is 1970’s all over again except the breaking point will be 6% instead of double digits due to the outlandish size of debt binge. I mean, come on. +46% on an asset class that was already in double bubble territory after the GFC. No way no one saw this coming. This is criminal on so many levels.

By: Ben Dover

Ben Dover — Tue, 07 Mar 2023 03:27:26 +0000

Mine jumped from 1600 to 3450. So fuck tiff and fuck Trudeau and this whole fucking communist regime. They need to cut rates immediately or people wil loose their fucking homes.

By: Legume

Legume — Tue, 07 Mar 2023 00:49:50 +0000

Sean Fraser is bringing in too many immigrants.
Got to keep the demand for rentals high for the slumlords and home owners?

By: Ray

Ray — Tue, 07 Mar 2023 00:27:23 +0000

In reply to Ravi. They're not wrong, so many people I know who's payments jumped from $3500/month to almost $7k a month. That's just with the current interest rates. People aren't feeling the rates just yet. The squeeze is coming when a lot of the renewals will coming up.

By: Mark Bayly

Mark Bayly — Mon, 06 Mar 2023 20:13:26 +0000

Interest rates are still too low and inflation will continue to rage. Can’t keep printing money forever to pay the bills

By: Frank

Frank — Mon, 06 Mar 2023 19:56:15 +0000

Canadians owe $1.84 for every dollar they earn. Americans owe $1.05 for every dollar they earn. States hikes interest rates,our looney falls, BOC hikes rates again , people lose their homes, claim benkruptcy in droves, then BlackRock or the like swoops in and buys these distress sales, renting the units out, and sell at a later date at profit. This is likely the true plan. Canada’s debt and economy is much different than the US .Following their lead will result in disaster .US is bankrupt anyways, $23 trillion in debt ,and apparently losing the Petro dollar. That in itself should sound the alarm . Sticky inflation, diesel prices have dropped considerably as have transportation charges. The grocery chains are clearly price gouging and posting record profits.Gov needs to step in and tax their profits heavily.