The BOC should not have cut. The American Fed isn't going to cut today. So the BOC will be sitting on this cut with nowhere to go. Meanwhile the Canadian gov't has done nothing to regulate the real estate sector. They need to drop the land transfer tax, regulate against investor activity by charging a commercial rate on investor properties, increase supply (and this is going to take a decade) and drop immigration massively. This is a disaster created back in 2003/2004 and it's going to take a very long time to correct.
The rate cut will not impact nothing. People will not search no property investment at this point. People with huge leverages will most likely need to face reality. It can be ugly for them.
The US Federal Reserve stood pat today at a Target rate of 5.25% to 5.5%.... with forward guidance NOT to expect any cuts this year in 2024... suggestive that any further BoC rate cuts in deviation from US Fed Policy WILL now manifest in significant Loonie depreciation now widely expected sub .70 cents to .68 cents upon any subsequent BoC rate cut in July.... EXPECT RESURGENT CPI INFLATION UPON ANY B0C RATE CUT IN JULY.... to preclude any further lowering from there ! If you need to GET OUT.... lower your price and get it done as you may well get even LESS later ! RUN FORREST.... RUN !
The cut will spur a flood of listings but not buyers
Yes we need to cut rates to bail out over leverage home owners and boomers.
Sounds like that’s their problem
The BOC should not have cut. The American Fed isn't going to cut today. So the BOC will be sitting on this cut with nowhere to go. Meanwhile the Canadian gov't has done nothing to regulate the real estate sector. They need to drop the land transfer tax, regulate against investor activity by charging a commercial rate on investor properties, increase supply (and this is going to take a decade) and drop immigration massively.
This is a disaster created back in 2003/2004 and it's going to take a very long time to correct.
Great information John!! Thank you!
25 basis points won't make any difference to anyone. The fixed rates will probably go up.
If you look index home prices for G7 countries, chart so bearish that I am afraid we heading down next few years
Phil Soper is always bullish, I don’t look at an article that mentions him.
The rate cut will not impact nothing. People will not search no property investment at this point. People with huge leverages will most likely need to face reality. It can be ugly for them.
The US Federal Reserve stood pat today at a Target rate of 5.25% to 5.5%.... with forward guidance NOT to expect any cuts this year in 2024...
suggestive that any further BoC rate cuts in deviation from US Fed Policy WILL now manifest in significant Loonie depreciation now widely expected sub .70 cents to .68 cents upon any subsequent BoC rate cut in July....
EXPECT RESURGENT CPI INFLATION UPON ANY B0C RATE CUT IN JULY.... to preclude any further lowering from there !
If you need to GET OUT.... lower your price and get it done as you may well get even LESS later !
RUN FORREST.... RUN !
Who needs lower mortgage rates? 1%
Who needs lower home prices? 99%
⏰️ It's time to wake up⏰️
#GTAOntario #HousingCrisis #Canada #Realtor
lol