/biz/ - Business & Finance

>>55215528
WE RIDE

>>55215528
TWENTY FIVE BASIS POINTS

>>55216514
TOTAL HOOMER DEATH

>>55215528
Explain it to me as if I was a golden retriever

>>55218862
It's like the feel of a cold blade in your ribs

Here is hopping for 75bp

I want the greedy home parasites to get rapped

I make 6 figures and can't afford a house

The Bank of Canada just 'stomped' on the housing market rebound

>The bank’s decision to raise its key interest rate 25 basis points to 4.75 per cent on June 7 will put downward pressure on home prices, which have rebounded faster than the bank had expected, according to James Laird, co-chief executive of Ratehub.ca and president of CanWise mortgage lender.

https://www.msn.com/en-ca/money/finance-real-estate/the-bank-of-canada-just-stomped-on-the-housing-market-rebound/ar-AA1cfHWu?ocid=msedgntp&cvid=8e3da93eba9d4149b0a40e7adb8c289b&ei=17

3+ months for 25 basis points? this shit is cringe, pump it up 250 basis points next time pussy ass bitches or your canadian dollar SHITCOIN will tank

>>55219171
Omg they raise it of 4.5%?

>>55218878
I don't look at that.
Inside your there is a crying child.

>>55219242
This guy knows

all realtors must learn to code

>>55219276
You have no idea how stretched people are on their mortgage.

Most Canadians don't have 10K in their savings or in any form, readily available for the unforeseen.
I predict another 50bps by the end of the year.

A mortgage for 400K will be over $2600
You are buying a shit box for 400K

>>55219409
No, man, I am not ironic, 4.5% is a lot, and it seams to be a globo operation because the fed announce their rate on the 16 of June. In France, they spoke about the risk of being downgraded by the notation agency, so I imagine that they have or will increase the rate, too.
How much is it usually?

>>55219409
I don't think you can even get a bachelor condo in Toronto or Vancouver for $400k anymore. The prices here are retarded.

The suburbs of the GTA saw 100% increase in value over covid. 100% increase in wages will take 40 years at the current pace. The only regular people who can afford to buy are those downsizing from places they already have equity in. Consequently, there's pretty much zero inventory.

Everyone is stuck until wages fly up or prices fall down.

>>55219171
Explain this to me like I’m a retard, can I afford a house now or is my landlord raising my rent

>>55219760
The reason people think housing prices started going back up is because the BOC paused rate hikes. The assumption was that the next move would be a rate cut, making mortgages cheaper.

Instead, they starting raising again, which surprised people. This will make mortgages more expensive, and throw cold water on the idea that rate cuts back to 0 are just around the corner.

House prices will likely hover where they are or go down. Rent still has room to go up before it catches up with house prices. Go calculate how much the place you're renting costs to own and expect the landlord to charge you accordingly.

>>55219718
>I don't think you can even get a bachelor condo in Toronto or Vancouver for $400k anymore. The prices here are retarded.


No you can't. But if you move around London you might be able to find some and they are complete horror units.
Now even the housing in NS, NB or even Newfoundland has gone stupid thanks to those that sold, made millions and moved there.

>>55219760
>or is my landlord raising my rent

this

This is not sustainable, unless they bring 1 million jeets every year. Only them with 5+ incomes per household can afford these prices. They don't care if they work 60+ hours per week, no vec, 10+ people per home.

>>55215528
Over status: it's
And normalfags have the gall to ask why I don't travel or eat out often.

>>55221198
Hello Brian,

I've noticed that you haven't been travelling very frequently; also, the rate at which you purchase food from restaurants has declined. Would you like to tell me what's been going on?

>>55219718
> The prices here are retarded.
Canadians are retarded.
Was talking to a guy last night who told me Canadian banks have risk models nearly 15 years behind what is now considered best practice.
Also that Canadian banks were planning big layoffs, which will mean forced sellers.
People here are clueless, but they are clueless as a herd, hence the enormous bubble.

>>55222788
Another anecdote. Had two different people tell me yesterday about the rate announcement today.
Both on arm.
BoC have built a total mess.
Imagine how smart you have to be to get into the Canadian banking establishment, I bet it's fuck all.

>>55222788
Canadian banks used to be among the best in the world, prior to diversity hiring. Now they're as useless as a government service.

Nevertheless, they are backed by money printers and the entire country depends on them, so their stocks still pay well.

Bring in warm bodies from third world shitholes as the GDP per capita collapses so you have "growth". Have fake government-subsidized TFW temp jobs that create "job growth". No where for gibsmegrants to live so rents soar and housing costs are out of control. Retards at the central bank think this failed state collapse of an economy is "hot" and "inflationary". All young professionals are leaving south. Labor jobs are leaving because they are undercut by shitty immigrants. Less house building, house prices go up. Healthcare collapsing. Repeal foreign money laundering housing ban after one month because uppity boomers want their piece of shit houses to go up so they can Heloc them to buy Teslas and Mexico vacations.

Canada is the most retarded joke country in the world.

>>55223199
but but housing is up, so a young professional now has to work three times as long for the exact same thing!
that's Canadian growth!

>>55222975
>Canadian banks used to be among the best in the world, prior to diversity hiring
what a load of shit.
Canada pumped a bubble because Canadians wanted to be as lazy as fuck, plus they are financially illiterate.

Momy to the rescue

Chrystia Freeland Seeks to Reassure Canadians As Bank of Canada Hikes Rates Again
>Following the Bank of Canada's decision to raise interest rates to 4.75%, Finance Minister Chrystia Freeland sought to reassure anxious Canadians that the economy remains on track for stability and growth.

"There are a lot of Canadians who are anxious right now and who will be concerned when they see this step taken by the Bank of Canada," Freeland acknowledged during a press conference held in Ottawa.
>We are coming to the end of this difficult path out of the Covid economy"

https://www.msn.com/en-ca/money/topstories/chrystia-freeland-seeks-to-reassure-canadians-as-bank-of-canada-hikes-rates-again/ar-AA1cg4dO?ocid=msedgdhp&pc=U531&cvid=369d4630f58046d1b7138131b4706545&ei=10

>>55223578
A former journalist at the financial times.
This person is not qualified.

>>55223789
And a drama teacher as PM is?

We Be Fucked

>>55223250
Don't be a faggot nigger, list the banks superior to Canadian banks in the early 2000s and let us all know why they were so much better.

>>55224061
Yes that's right, the retard in chief hired someone substandard.

>>55224132
What the hell does earl 2000 have to do with my assertion that Canadians made this total mess?
A good job gets you *nowhere* in Canada. You guys made an absolute mess.

>>55224308
Your assertion was that it's a load of shit to claim Canadian banks were once among the best in the world, you dishonest nigger.

>>55219718
400k toronto.....maybe a parking spot....

canada.
do anybody really care ?

>>55224474
Keep it up and we'll gas you like we did new york

>>55224379
No my assertion was diversity hiring did not cause this.
Lazy, stupid, greedy Canadians caused it.
Canada is full of people whose house earns more than them, and they fucking loved it.

>>55224953
> Housing won't go down, immigration demand is so high
> Our banks are well regulated
> There's a lack of land
You're retards, financially speaking.

>>55224953
You're such a lying nigger:

>Canadian banks used to be among the best in the world, prior to diversity hiring
what a load of shit.

>>55219039
Get fucked chud, we home owners stay winning

>>55226134
girls who say chud don't own shit