/biz/ - Business & Finance

>>828500

The Bank of Canada has very few tools remaining to keep housing prices inflated and subsidizing the stupidity of the average Toronto and Vancouver real estate customer. Interest rates are at rock bottom and the previous rate cut did nothing to stimulate the broader economy, it just allowed more stupid people to take on more cheap credit, which they normally wouldn't be able to afford in a "normal" interest rates environment.

What the conservatives did is essentially put down the framework for a debt crisis, which will be more severe than anything you saw in 2008, because it will affect anyone with a mortgage, not just a few wealthy people active in the stock markets.

Again, I want to stress how divorced political dogma is from tangible economic reality in Canada.