OTTAWA – After the Bank of Canada announced its new policy rate of 2.5 per cent, it conceded that the increase could further weigh down a Canadian housing market that’s already expected to shrink by one per cent this year.
Not that I’m buying a house any time soon but…
GOOD.
If you’re hoping for a housing crash (beyond the 30% price reduction already experienced over the last few years) I hope you have a really essential job. Because a lot of people will have lost theirs.
Not hoping for a crash, hoping for a slowdown.
Well, you’re in luck!
I have Canadian citizenship, though grew up elsewhere. I did visit quite a bunch. I’ve long thought of living there for a few years, but the housing prices near to where I’d want to be (near my job, public transport, arts, etc.) just made me basically rule that out.