Bank of Canada to raise rates 25 basis points on July 12, possibly the last: Reuters poll
www.reuters.com
The Bank of Canada will raise interest rates by a quarter-point for a second straight meeting to 5.00% on July 12 following a five-month pause earlier this year and then hold well into 2024, according to a majority of economists polled by Reuters.
  • sugar_in_your_tea@sh.itjust.works
    0·
    1 year ago

    Raising rates seems to do two things to housing:

    • encourage targeting luxury housing - if you’re rich, prices aren’t as important
    • encourage selling to larger landlords - more apartments, fewer condos/townhouses

    Builders are still going to build, they just need to target people who can afford the higher prices.

    • Kecessa@sh.itjust.works
      1·
      1 year ago

      Looking at the construction industry in Quebec, builders aren’t building anything… There’s zero clients right now…