/biz/ - Business & Finance

>>55563115
The real answer is that Canadians only have variable interest rates. When there was historically low rates, many people got homes and many immigrants also got property leading to a supply squeeze. Asset prices kept rising with lower rates. Then the party stopped and rates had to increase. As each month goes by more and more Canadians get adjusted to the new higher rates. They all bought thinking rates in Canada would never go up. They lived on the verge of bankruptcy during historically low usury rates. Now the rates are back to normal, it pushes them into bankruptcy. This is happening in Germany, Australia and more. America is quite unique in 30 year fixed rate being normal. But fixed rates will not save American real estate either. It will merely slow the drop.