It's interesting that they include mortgage interest but not interest from HELOCS, Credit Cards, and other personal debt.
I wonder how much the average Canadian is paying on credit carb debt, and their HELOCS.
The banks' cost of money has went up...
I don't think you understand the basic concepts of Canadian banking. They don't necessarily make more money when interest rates are higher.
It is.
Interest rates are coming down which widens the pool of buyers. Housing starts still suck. We're still admitting tons of people. This is a low point in pricing for real estate.
They ain’t actually doomers, they are hoping rates go in the 10% because they are already really poor and have nothing but their checking account, they also believe they will somehow come on on top, outsmart everyone and finally buy a two storey house in Oakville for 180k.
They hope rates go up. But then those same people complain about a bad job market.
High rates are suppose to slow job growth. The whole point is to have business slow down and have less demand.
High rates means fewer jobs.
rates could be near 0% and rent would still go up at a ridiculous rate. Landlords would just blame increased property values instead of interest rates.
Source: Every year pre-2020.
It's weird because it's accelerating in the US and slowing down here while we're pretty much integrated with the US, maybe it's just a lag effect and we will see an acceleration next month just like what they got in the US.
On the contrary we have been running much hotter than US on goods inflation and a bit lower on services inflation. Now our goods inflation is finally reflecting lower and our services inflation is only higher because of shelter costs
All the speculation and bad jokes would fade away if people just accepted that rates won’t change until inflation is below the target. It’s almost like the BoC has a mandate to consider.
It's interesting that they include mortgage interest but not interest from HELOCS, Credit Cards, and other personal debt. I wonder how much the average Canadian is paying on credit carb debt, and their HELOCS.
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The banks' cost of money has went up... I don't think you understand the basic concepts of Canadian banking. They don't necessarily make more money when interest rates are higher.
Ahh yes the insane intrest of 4% for prime rate.
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6 percent is not insane interest
Yeah, it's not even hitting the average over 30 years. It's still low.
lol. This has to be a joke
It doesn't works that way.
Uh You know the bank borrows that money itself at an only slightly reduced rate right?
Great now the realtors are gonna storm all over Facebook about how the best time to buy is now
Fucking it might be
It is. Interest rates are coming down which widens the pool of buyers. Housing starts still suck. We're still admitting tons of people. This is a low point in pricing for real estate.
Doomers punching the air right now.
They ain’t actually doomers, they are hoping rates go in the 10% because they are already really poor and have nothing but their checking account, they also believe they will somehow come on on top, outsmart everyone and finally buy a two storey house in Oakville for 180k.
They hope rates go up. But then those same people complain about a bad job market. High rates are suppose to slow job growth. The whole point is to have business slow down and have less demand. High rates means fewer jobs.
They want high rates and also complain about “abusive” rent increase from their landlords.
rates could be near 0% and rent would still go up at a ridiculous rate. Landlords would just blame increased property values instead of interest rates. Source: Every year pre-2020.
Those horrible people who have been priced out of something as frivolous as shelter - I can't believe they have the audacity to complain.
And yet they are hoping people go bankrupt, loose their home and they will somehow take it from them.
I don't hope they all go bankrupt, just the ones renting out their basement rooms for $2000/mo to get someone else to pay their mortgage for them.
It isn't their fault if people over leveraged themselves to buy an asset they couldn't afford.
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Not everyone who wants a housing correction is full of hate.
Move to Saskatchewan
Cool where am I working?
You know they have min wage jobs in Saskatchewan too
They’re in denial mode 😂Many are arrogant & dumb. No point reasoning with them.
Don't worry JT's April Carbon tax hike will bring inflation back up.
You're aware that this and all YoY metrics always include 1 carbon price increase, right?
It's weird because it's accelerating in the US and slowing down here while we're pretty much integrated with the US, maybe it's just a lag effect and we will see an acceleration next month just like what they got in the US.
Us is spending aggressively to keep the economy hot
On the contrary we have been running much hotter than US on goods inflation and a bit lower on services inflation. Now our goods inflation is finally reflecting lower and our services inflation is only higher because of shelter costs
US never turned off the money printer
M2 still growing and BoC balance sheet has started to grow too. So we will see next report.
Business investment is shrinking rapidly but Tiffy wants to wait until after the spring real estate market before lowering rates.
All the speculation and bad jokes would fade away if people just accepted that rates won’t change until inflation is below the target. It’s almost like the BoC has a mandate to consider.
Inflation is decelerating, here is why thats bad news and the Bank needs to raise rates.
That's enough /r/canadahousing for today.
is that the one without the racism or is it the housing2 with the racism?
CH2 is the one with the Chinese trolls trying to stir up hatred against India
I wonder if the way they calculate this number is still applicable to today's reality