48
Bank of Canada expected to cut interest rate Wednesday with no signs of stopping there
(financialpost.com)
this post was submitted on 03 Sep 2024
48 points (100.0% liked)
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Welp, that pretty much nixes housing being affordable any time soon.
That has never been the goal, it's not the goal of ANY of the major political parties because it would be political suicide.
For housing to be affordable, current house prices would have to drop significantly, which would means loses in the hundreds of thousands of dollars for most home owners, and 65% of the current residential properties are owned by the family that live in them (the majority of voters)
So what is the goal? Just ride the burning ship down.
The goal for the political parties is to just get into power temporarily in order to further your own career.