TSX:NWH.DB.G - Post by User
Comment by
Panic54321on Oct 20, 2023 2:29pm
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Post# 35693505
RE:RE:Rates
RE:RE:Rates I think rates in Canada are done raising.
reading many articles, they say it is.
besides that you just have to talk to people and look at what's really going on in the every day, persons life, especially younger people.
Every average person I know is in financial trouble because of interest rates.
they either have a variable rate mortgage and have got taken to the cleaners on that big time. Or the other one is a large mortgage that's coming to do in the next 6 to 12 months that they have to renew at a much higher rate.
I'm really certain that it went too high too fast and the worst is yet to come. People are complaining everywhere in Canada about it. I know many people selling their house for this very reason. ( ditching their rental properties because they can no longer afford to keep them.)
Including myself ( rental property )
I know it's a bit of a rant, but they can only stay this high for so much longer....
Somethings definitely going to break and they're gonna have to drop them.
middle of next year will be a different story 100%
Not to mention that a big part of the inflation in rents and mortgages, is because of the interest rates being high. ( double edge sword )
BOC is causing tons of pain on the little guy ( not the rich )