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Rates Stay High. Will People Sell?

ByRon Butler
Published 2023-09-22, 08:29 a/m
Updated 2023-08-10, 02:39 p/m

It’s been 18 months since the Bank Of Canada started their ultra aggressive Rate Hikes and historically by this point some kind of cracks begin to appear in Canada’s Economy and it finally looks like that is happening: Here’s a story about a mortgage that starts to become unmanageable and what happens next.

This video was originally posted on The Angry Mortgage Podcast YouTube channel

Latest comments

Dont sell, whats your alternative? High rents? Try and get a roommate, anything to help with increased payments
People using up all their cash reserve until no money left to pay high price for goods and services . Then there will be no demand, so prices will come down. Canadians will become poorer in the process and will look elsewhere for a better living standard.
This guy has no advice to give just a fear monger.
don't watch this jerk
how do you control inflation when inflation is being caused by external factors. if you want to control inflation you will have to remove or at least decrease the amount of tax we pay for a liter of gas. you bring energy costs down and inflation goes down . also the war in Ukraine has to end.
Everything is fine nobody will sell you for cheap houses in Toronto are the same but now your screwed waiting because rates were 1.50% now 6%
People cant fight with the central banks. The FED has not many options to control inflation. The liquidity has to go short in the coming two years to lower the inflation. Economy will go through a long recession and over 30% of people has to go broke for the economy to get into an affordable shape. Its bitter but thats the only truth. We have to sink to rise again.
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