Bank Rates Won't Stop. Even After 10-20% Drop in Home Prices.

Real Estate has no doubt been one of the main discussion points over the course of the last couple years. Housing prices increasing 10-20% in some markets annually, and in some cases, monthly (like we have seen here in London, Ontario).

The bank of Canada has announced their plans to increase their interest rate, in an effort to help cool the cost of housing and spending in general. Though some older homeowners may feel a sudden increase in wealth, new homeowners are having a very difficult time entering the housing market.

Source:

https://financialpost.com/executive/executive-summary/posthaste-why-a-20-plunge-in-home-prices-wont-stop-the-bank-of-canada-from-raising-rates?utm_source=fpcontentads&utm_medium=native_ads&utm_campaign=on_network_boosting&utm_content=FPcontentads