How fucked is Canada now that they raised bank rates?
How fucked is Canada now that they raised bank rates?
Asher Perry
Julian Myers
It's bullish for the housing bubble, honestly.
>51% of homeowners are on variable rates
>Rising interest rates and inflation heem the average normalfag
>Debt and/or liquidity crisis
>But this is fine because you will own nothing
>In reality, banks will simply foreclose and never sell the houses that default, sell the consumer debt to the US and take out a loan from the investment banks, thus continuing the perpetual debt economy
House prices are still gonna suck, nothing will change
Tyler Gonzalez
Idk hope that helps
Nathaniel Rogers
Well, you bumped the thread.
Parker Wood
canadian people are so passive and willing to be assfucked, it makes me angry. i dont know if its either that their lives are so good that they dont care (yet), OR they will never stand up for themselves.
Brayden Phillips
>House prices are still gonna suck, nothing will change
I think:
>housing prices may drop a little but lack of supply and mass immigration will keep it out of reach for everyone that is its out of reach for now anyway
>a small number of property owners might get screwed
>landlords will just pass down their cost increases to renters
>nothing will change
Things will change for the worse
Cooper Long
Still not my problem.
Chase Richardson
>In reality, banks will simply foreclose and never sell the houses that default
CHMC insurance means they can sell those houses for pennies on the dollar and still get their money.
Levi Morales
Cucknada is fucked by design, it's a prison colony on a frozen rock.
Matthew Gomez
Do you not remember the honkening? Trudeau literally fled for his life. There was also a ranger who drove his pickup through a gate where Trudeau lives. He had loaded firearms and was going to “abduct” him.
Aaron Martinez
Tangential, but I didn't realize how much of Canada was like a giant shield of rock that makes the land practically worthless.
Jaxson Allen
Rate would have to increase to ~5% just to match most fixed rates obtained near the bottom, and any fixed rate further out are set to expire any minute now (they are max 5 years, they're not real fixed rates) so they'll get completely destroyed.
If anything the increase in people who are getting variables suggests to me that people whose fixed expired were no longer able to afford the new fixed rates they were offered, rather than that people deliberately chose to go with the variable.
Nathaniel Smith
Why can't they quarry the stone to build houses with?
Samuel Hall
Lots of metals to be mined, but no one wants to move to the middle of nowhere. They all gravitate to cities and get cozy gubberment jobs instead.
Owen Ross
The land is far from worthless. We have endless amounts of rich resources (oil, common metals, rare metals and minerals, lumber as far as the eye can see), rich waters, and extensive arable lands (just look at sask or even bc).
The problem is complete incompetence at every single level of governance because greed > all.
Josiah Brooks
housing here was never a resource problem its a people problem. cant build houses when no one wants more people in their cities, but then the fed government adds half a million every year
Levi Moore
This is a government management problem: they tax and tariff everything to death so that mining jobs are unlivable while cozy government jobs are cushy even before you take bribes into account. And believe me, bribes are a big deal there.
Levi Robinson
Also, we have a two tiers of citizens. Natives who don’t have to pay tax and stop every natural resource project and regular Canadians who foot the bill for the natives…there’s also the French.
Ayden Myers
>government management problem
Yes, I know they are incompetent. I live here.
Jason Reyes
Quebetards as a people are just white-skinned niggers, they're widely harmless as long as they stay in their shithole. The money doesn't go to them, it goes to the government almost exclusively. That said there are towns composed fully of those white-skinned niggers living on gibs, but it's a generational thing, whereas modern whites haven't been allowed to get gibs in ages even for legitimate reasons (like unemployment) because "hahaha you yt you no need dat money lol haha"
Brandon Hernandez
Who knows? The de facto Liberal-NDP coalition will bail out anyone struggling financially anyways. I am more concerned with Canada having ZERO gold in reserve.
Real-estate will remain high due to Chinese oligarchs and 451,000 immigrants arriving per year. Everything else is detail.
Begone you retard.
Easton Lee
It's sad that you're such a seething quebecuck since at least you can think a little clearer than the average canadian (which, by quckbec standards, puts you in the top 0.1%, IQ-wise).