“In Canada, elevated levels of household debt and high house prices remain two key interconnected vulnerabilities,” the bank said in its annual Financial System Review.
Last week, the Bank of Canada signalled it is willing to hike its key interest rates above the previous target of 3%, which would put those with variable rate mortgages and home equity lines of credit under additional stress. The bank blamed the massive run-up in house prices on strong demand relative to supply and an increase in the number of investors snapping up properties.
The arsonist screaming for more gasoline.
Little late to be sounding the alarm over household debt, should have done that years ago cause u knew sooner or later interest rates would go up...check your history.
R.i.p us.... I make above average wage and my wife does ok as well and we are struggling to make rent pay bills and put food on the table I feel bad for anyone with kids or lots of dedt
That's it, scare everyone more! Like puppets!
Housing costs have been out of control for years. Now energy costs are fueling inflation across the board.
An intentional act of sabotage, to destroy the 🇨🇦 economy… printing all that money.
BoC should be sounding the alarm over everything but workers' pay cheques experiencing inflation.
The bankofcanada waited too long to raise the interest rates . They should be held accountable! Pierre4PM 🇨🇦
STOP PRINTING MONEY!!!!!!! This is not Canadians citizens problems, you all should be fired! Trying to spin it like its our fault.
Recession in a couple of months because of failed globalist policies.
🤦♂️🤦♂️🤦♂️🤦♂️ How about teaching children in school basic household management instead of instructing them in the possibilities of cutting off their genitals'
The only way to fix this is with lockdowns and monkeypox emergency relief benefits ( MERB ) .
get one of our over paid idiots on your staff to do ...... ROOT CAUSE ROOT CAUSE enjoy the veal...tip (our$$) waiter..good night
Some of us knew this 36 months ago.
Welcome to the party. Something Canadians have known about for a while
Trudeau has our backs - he has picked out pockets and left thread.
There are so many Canadians that don’t realize just how royally screwed they are. I suppose it’s for the best. It’s sad to think that the best day many Canadians will have for the rest of their lives is today. Buckle up.
lol 2 years late
Lol after they encouraged and supported home ownership and low interest rates for how long?
If you weren’t taking advantage of historically low rates to reduce personal debt then you weren’t paying attention.
Grab a glass and get your seat…
_IslandG Whatever happened to the Minister of Middle Class Prosperity? Quite the visionary Trudeau is by removing this portfolio. With more and more middle households on the brink... why bother having one when you can't even define one.
Ya, but keep jacking up interest rates so the barrel getting by are barely getting by even more!
_IslandG This is what happens when you print billions and give it to your friends….TrudeauDestroyingCanada TrudeauForTreason TrudeauMustGo
😅😂🤣 They created it they ought to know.
What happened to the bank of Canada and all their transitory talk? Even last year they were telling people rates would remain low
The BoC has been several months behind analysts, and have made wrong call after wrong call. They've failed their mandate of keeping inflation at 2%. People should be fired.
And who was it that encouraged Canadians to go into debt by keeping interest rates artificially low and saying the would keep them there until at least 2023?🤷🏻♂️ And people wonder why Pierre Poilievre wants a shake up of the BoC. They created this impending RE disaster in Canada.
Really you mean P.P. is right?
God we're so fucked
Yet Canada keeps printing money.
See I knew it they know already we're being beaten up by inflation, so what do they do? Jack up interest rates so they screw us both ways to eat and service our debt. Why do they pretend they care.
Reminder to all the covid zealots and lockdown enthusiasts: the consequences of the last two years hasn’t even truly begun, hyperinflation is just the beginning. I feel sorry for the working poor, the covid zealots have put you on a path of misery and despair.
My savings are depleting heavily.
Say it ain’t so. 🤨
I guess using housing to force GDP growth while turning this country into the capital of the third world, is turning out to be a bad idea
This is news? 🤣
so don't increase interest rates
Where was the bank of Canada when the PM made them print an excess amount of money to place Canada in such a mess...They were all in and doing what they were told...NO BACK BONE...
Soaring corporate greed Inflation is 8% but the price of everything it up 15-20% Where is the money going
High interest rates = loss of homes and bankruptcies….. next - Recession!