RE:RE:RE:RE:RE:RE:NAV July 10I bought my first home in 1987 with a builder's special interest rate of 12.75%. No joke. Sold 8 years later and didn't make a dime. The last 20 years of low rates created the biggest asset/debt bubble in history... sure Canada is a great country that attracts many new folks, but the history books will be written that rates were too low for too long. People gorged and now the price has to be paid. To quote, the tide is going out and we will see who is naked.
Vesta63 wrote: Sorry to hear about your Reit holdings downturn. It would make anyone bitter, but that is the market. You are probably a young investor and haven't experience long term upside and downs of the market and the economy. Current interest rates are not even historically high, 6 to 7% is normalized. In the early 1980s when I graduated from college, interest rates were 21 to 22%, many many businesses folded, people lost homes and very high unemployment. My mortgage late 80s was 13%. Was glad to pay 7.5% 10 years later. Inflation had to be brought under control to achieve lower interest rate, any economist basic knowledge. Good luck.