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Canada To Raise Interest Rates Sooner Because Of High Inflation


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https://www.bnnbloomberg.ca/really-dangerous-boc-walks-tightrope-amid-inflation-pressure-1.1672762

 

The Central Bank on the same day they announce the end of QE (a form of money printing for stimulus) they also suggested the timeline for interest rate hikes may have to be moved up to the middle of next year or sooner

 

The culprit is the highest inflation since 2003 which is proving more stubborn and persistant than policy makers hoped for

 

Keeping rates near 0% will only let inflation get even higher as economy recovers

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Economy
1 minute ago, Blastertoyo said:

Hurray for having it the absolute worst :enigma:

E7-A392-CB-04-E6-4138-AAE2-E0-B4309-EB64

What makes vancouver real estate even more expensive than Torontos anyway? 

 

But for real i hope these higher rates at least calm the tits of real estate and perhaps some of the regular inflation too :madge:

Edited by Economy
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LaLa

today I went to buy a grocery staple for us... the absolute legend $5 lunch meat

20818693_lrg_1__1x_1024x.jpg?v=1598346814

and it was $6 now :messga::bradley::toofunny:

anyway, not into it lol

Edited by LaLa
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Blastertoyo
3 minutes ago, Economy said:

What makes vancouver real estate even more expensive than Torontos anyway? 

But for real i hope these higher rates at least calm the tits of real estate and perhaps some of the regular inflation too :madge:

Better views? More immigration? Better weather? 
I know the 2010 Olympics really raised the world profile of the city and UBC is a designer Uni so that probably contributes a lot, also the fact that everything is filmed here.

I just hate that everything is literally so unaffordable here, there’s real estate tiktoks and people just roast them in the comments like “that’s not downtown that’s surrey” or “that much for that little space??” :ladyhaha:

 

please enlighten me to death
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Korok

Housing is the next big problem for Canadians me thinks. Montreal used to be well known for cheap rent/housing and it's become a horror story within the last 2 years. Four years ago I had friends paying 600-800 a month for a 2 or 3 bedroom. Completely unheard of nowadays, everything in those same areas are in the 1000s now, which in comparison to other Canadian cities isn't terrible, but still. 

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Economy
1 minute ago, LaLa said:

today I went to buy a grocery staple for us... the absolute ledged $5 lunch meat

20818693_lrg_1__1x_1024x.jpg?v=1598346814

and it was $6 now :messga::bradley::toofunny:

anyway, not into it lol

Yeah meat the last 2 years has really gone thru the roof

 

Honestly tho with all the money that was printed and given away in emergency benefits it was innevitable

 

I get the government did what it had to do in emergency times but a day of reckoning and pay back was innevitable. Dunno why some ppl are still surprised by this

 

Also lowkey surprised the Central Bank is surprised (or acting surprised). The amount of liquidity thrown into the system was impossible not to cause inflation

 

Some ppl have this new modern economic theory gaining popularity (i forget the name of it) where they think printing money doesnt cause inflation and that Government can spend as much as they want. Dunno what they are smoking :bear:

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Just now, Blastertoyo said:

Better views? More immigration? Better weather? 
I know the 2010 Olympics really raised the world profile of the city and UBC is a designer Uni so that probably contributes a lot, also the fact that everything is filmed here.

I just hate that everything is literally so unaffordable here, there’s real estate tiktoks and people just roast them in the comments like “that’s not downtown that’s surrey” or “that much for that little space??” :ladyhaha:

 

Toronto grew like 125,000 ppl a year, fastest in North America. U do not have more immigration than we do lol so thats not it

 

If i had to guess i do know wages in BC are slightly higher... theres also more shortage of land for construction which might make supply growth even more constrained than in Toronto

 

 

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Economy
11 minutes ago, Korok said:

Housing is the next big problem for Canadians me thinks. Montreal used to be well known for cheap rent/housing and it's become a horror story within the last 2 years. Four years ago I had friends paying 600-800 a month for a 2 or 3 bedroom. Completely unheard of nowadays, everything in those same areas are in the 1000s now, which in comparison to other Canadian cities isn't terrible, but still. 

Yeah.... i know all the cheaper cities are rising too

 

But trust me Montreal is still not something to complain about

 

Cities like Toronto (and any city within an hour really) or Vancouver are absolutely horrendous

 

I dont live in Toronto i live in a suburb so its a bit cheaper than Toronto itself. A 1 bedroom basement is still like $1300 and a regular house about $1M :deadbanana:

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Blastertoyo
4 minutes ago, Economy said:

Toronto grew like 125,000 ppl a year, fastest in North America. U do not have more immigration than we do lol so thats not it

 

If i had to guess i do know wages in BC are slightly higher... theres also more shortage of land for construction which might make supply growth even more constrained than in Toronto

 

 

It’s not just immigrants though, we have so many international students and foreign “investors” buying up all the properties. I shouldn’t have said immigrants since a lot of these people don’t even have PR or want to actually live here. I don’t know if this happens in Toronto but like kids here just find a bunch of people and rent out luxury apartments and mansions for like 900$ each because no one can afford 1700$ rent for a studio apartment in the middle of nowhere :huntyga:

please enlighten me to death
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Korok
2 minutes ago, Economy said:

Yeah.... i know all the cheaper cities are rising too

 

But trust me Montreal is still not something to complain about

 

Cities like Toronto (and any city within an hour really) or Vancouver are absolutely horrendous

 

I dont live in Toronto i live in a suburb so its a bit cheaper than Toronto itself. A 1 bedroom basement is still like $1300 and a regular house about $1M :deadbanana:

No yeah Toronto is ... the chuck norris of unaffordable Canadian cities lol. 

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Economy
8 minutes ago, Blastertoyo said:

It’s not just immigrants though, we have so many international students and foreign “investors” buying up all the properties. I shouldn’t have said immigrants since a lot of these people don’t even have PR or want to actually live here. I don’t know if this happens in Toronto but like kids here just find a bunch of people and rent out luxury apartments and mansions for like 900$ each because no one can afford 1700$ rent for a studio apartment in the middle of nowhere :huntyga:

Do u guys have real data on that or is it a theory?

 

Cuz i know in Toronto we had all these claims from ppl that investors were the ones buying up all the condos and supply and making it expensive but there was actually not a whole lot of real data to backup those claims, it was mostly all anecdotal really but everyone repeated it as if it was a fact

 

We still dont have very detailed data but upon public demand theyve started to compile and track more information on the percentage of buys that are foreign or housing sitting empty vacant as investments and so far the data has not suggested forein buyers or speculative buys are making up as significant a portion of the market as the general public perception says it is. There appears to just genuinely be a housing shortage that has not kept up with demand

 

Again tho, i dont know all the details of BCs housing market thats why im asking. Do they kniw that for a fact that forein buyers are making it expensive or is it just a general belief still to be proven as it is here in Toronto?

Edited by Economy
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Economy
3 minutes ago, Korok said:

No yeah Toronto is ... the chuck norris of unaffordable Canadian cities lol. 

2nd worst. Vancouver is actually even more expensive (not by much tho) :enigma:

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