Low Loonies are coming back to haunt Canadians

I have always expected this will be the direction Canada is heading – The government will keep interest low and keep printing money.


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Is there a problem here?
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Canadian interest rates are the lowest in 5,000 years

While folk are debating solutions for our  problems, blaming foreign money and our immigration programs as the main culprits such as this article – Toronto, don’t let Vancouver’s housing crisis become yours. Whereby Josh Gordon, an assistant professor at the Simon Fraser University School of Public Policy writes about (and invited a lot of heated arguments): –

  • Concern about foreign capital is xenophobic or racist
  • Rising prices are all about low interest rates
  • There is no data
  • The problem is all about supply
  • We want foreign “investment”

Canada created history again.

According to HuffPost,

Canadian Home Prices Growing Faster Than All But 2 Countries: Knight Frank

Huffington Post Canada

Bank of America Merrill Lynch noted just months ago that interest rates are the lowest they’ve been in 5,000 years.

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The Great Canadian Real Estate Continues To Fly Sky High

House prices are coming down like “London Bridge is falling down”?

Dream on …

Housing Bubble or not, all indications suggest no one believes Chicken Little: “The sky is falling!” …

Canadian Real Estate Could Still Get Way More Expensive

Huffington Post Canada ‎Jul 16, 2016‎
Global comparison puts Canadian home affordability in perspective.
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Brexit Effects On Canadian Mortgage And Real Estate

Let’s examine what to expect as a result of Brexit … Could it be a “Real EstatExit” in the making for the Great White North?

How the Brexit Affects Canadian Mortgage Rates

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Canada Real Estate Is Still Very Rosy

Canadians richer than ever, and cutting back on mortgage debt

Debt growth eases

Canadians are getting the message on their ugly debt levels, at the same time as their wealth increases.

Mortgage debt growth slowed: Statistics Canada

Mortgage debt in Canada rose just 0.6 per cent in the first quarter of the year, to $1.1-trillion, marking the slowest pace since the depths of the financial crisis in early 2009, Statistics Canada said.

Canadians’ household debt ratio drops asmortgage borrowing slows to 5-year low …

More http://www.theglobeandmail.com

Still, we are confused …

Reading Toronto’s real estate market is no easy task

Last week the Canadian Real Estate Association reported that sales across the country rose 5.9 per cent in May compared with April.

More http://www.theglobeandmail.com

Mirror, mirror on the wall … What’s happening ?

The Magic Mirror says why don’t you buy this baby … ?

271 Chaplin Crescent – FOREST HILL

This is a 3 bedroom, 2 bathroom house on a 35 x 106 foot lot overlooking the beltline at 271 Chaplin Crescent.
Though I would want to paint all that wood and I can’t figure out how they wash dishes in that sink…
really like this house.
But considering that it is on a 35 foot lot, it will probably get torn down and replaced with something like the house down the street on the deeper 30 foot lot at 289 Chaplin Crescent.

Mortgage rates to rise soon

Long-term mortgage rates to rise soon, Stephen Poloz says

The market handled the tapering announcement well, though it put pressure on bond yields, including Canadian bond yields, Poloz said

Bank of Canada governor Stephen Poloz says he expects long-term interest rates to rise this summer as the U.S. Federal Reserve continues tapering, but he believes that would be a positive development.

Poloz, who was named Canada’s top central banker in May, said he believes that the U.S. Fed will continue to taper its bond-buying program throughout the year and that will create market pressure on bond yields.

“In the context of a firming global economy, especially the U.S., we’d expect to see some upward pressure in market interest rates, long-term rates in particular, where the quantitative easing has its primary effect,” Poloz said in an interview with Amanda Lang on CBC’s The Lang & O’Leary Exchange.

“So as a tapering occurs we might expect to see as we saw in the summer some increases in long-term rates, most of it seems to be priced in,” Poloz added … More

We heard this one before.
Is this time for real ?