With Canadian housing prices as high as they are, the last thing anyone needs is another round of “turbocharging”.
But then again, with the unemployment rate in Toronto sitting at 8.7%, it’s only matter of time until interest rates go back to zero so we can jump start an economy in which everyone just builds houses for everyone else.
The Bank of Canada needs to cut interest rates to get housing activity moving again or risk Canada’s economic growth, economists warn.
But two economists also think interest rates remain too high to turbocharge the sector, which is a major contributor to Canada’s economy and also highly sensitive to interest rates.
Olivia Chow could just hire all the unemployed GTA cupcakes and have them as full-time pride paraders.
Government is going to “Take action to solve the housing crisis”
I suspect this “action” will work as well as their solutions to the homeless crisis.
The Drug Crisis and the financial crisis..
Heh,Canadians are slow learners.
6 decades of Big Government Welfare and we are bankrupt..
Living in a land with so many laws,rules and regulation ,that we essentially lawless.
Punished,if we help ourselves.
Punished if we create wealth.
Punished if we protest government.
Punished if we be lawful property owners..
60 years we have run this experiment.
Conclusion is impossible to ignore.
Everything Government touches turns to shit.
We are better off without government help.
But 40% of those who vote are paid by this government octopus..
And these Not Sees will insist all is well,as long as they get their pay.
Good luck voting your way out of The Kleptocracy.
We tried Reform.
We will be moving to Retribution.It is human nature.This is what the RCMP were bleating about last year..
When the trusting tax payers,realize how FUBAR they are,through the actions of these “Civil Servants”,
life will get very interesting.
The destruction and collapse of Confederated Canada is going to leave many “patriots” brutally angry..
And a bitter sense of betrayal.
Especially those who voted for it
Queue the “we also need immigration” merry-go-round.
When housing is your number one economic driver, you know you have a serious productivity problem in Canada.
Lets just give everybody a UBI and call it quits.
I’m going to need about $10,000 a month.
My other car is a Rolls Royce.
Fin Post says the bank is “keeping its foot near the ‘break’.” The “break” of what?
Either they can’t spell. Or they expect something to break?
I hope house prices collapse.
And since when have house prices been such a big consideration over the interest rate? When the only sign of life in the economy is housing? I have never heard of this being a consideration in real countries.
Allow me to suggest a 5 year plan.
Or maybe instead of lowering interest rates just get rid of capital gains taxes altogether?
Rosenberg, Brown and Chambers all agree that the Bank of Canada should decrease interest rates because 31% inflation year over year in mortgages isn’t sufficient.
Never mind that there is a long term bubble in housing because of low interest rates, and excessive demand.
I’m also sure that Carney hasn’t given up on taxing home equity.
FWIW
Elementary horse control
Pull one rein, left turn. Pull the other, right turn. Pull both, stop.