Real Estate Market Risk in Toronto and Canada Market
Global Economic Impacts on the Toronto are defined through the rates of interest we pay on loans for credit cards and mortgages. When there is global uncertainty regarding the economic conditions, the Bank of Canada has to lower interest rates here in Canada to prevent us from going into recession, this has a dual impact of also heating up our home building sector. Which the Bank of Canada wants to keep cool, as it believes Canadians are deeply in debt as it is.
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However, I believe that the Bank of Canada has the wrong approach when dealing with the Toronto Condo market, and it’s heavy handed attacks on Toronto negatively impact communities outside Toronto, that are looking at ways to kick start their economies. This is particular and true in Western Canada with a red hot economy, and the Atlantic Canada region where the economy is not hot, and even shrinking, yet the Bank of Canada makes it harder for people to buy homes, who can barely afford homes in the first place.
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