RE:RE:RE:RE:RE:RE:RE:RE:NAV July 10rabnud wrote: As said the increase in interest rates has done nothing but make every day working people nothing but misery and will not curb inflation one little bit
when we paid 18% mortgage interest back in the early 80,s a house was only 50-100K paying 6% now is 5 times as bad because its on 500K now
say and think what you like Iam 100% positive all the high rates will do is fuel inflation and cause working familys plenty of misery
its killng the stocks that are interest geared like REITS etc
its killing housing developments big time
The people that were already living on the edge when rates were 2.5% will get hurt now. Many will be forced to sell their homes.
The alternative was to leave rates as is but that would eventually hurt a lot more people. Cdn $ would get crushed and that would be catastrophic!
Higher rates will curb inflation. No doubt about that, and while some might get hurt in the process, the alternative would have been a lot worse.