The Bank of Canada will raise interest rates by a quarter-point for a second straight meeting to 5.00% on July 12 following a five-month pause earlier this year and then hold well into 2024, according to a majority of economists polled by Reuters.
The problem is that people increasingly CAN’T afford the prices. Where are all they people that can afford near million dollar homes for 8% interest (or cash) come from?
At best, they’ll be people who are landlords who already have significant wealth and will rent at sky-high prices…
The problem is that people increasingly CAN’T afford the prices. Where are all they people that can afford near million dollar homes for 8% interest (or cash) come from?
At best, they’ll be people who are landlords who already have significant wealth and will rent at sky-high prices…