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Rate hike could drag down already slumping housing market (www.ctvnews.ca)
submitted 1 week ago by to c/canada@lemmy.ca
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OTTAWA – After the Bank of Canada announced its new policy rate of 2.5 per cent, it conceded that the increase could further weigh down a Canadian housing market that’s already expected to shrink by one per cent this year.

Not that I'm buying a house any time soon but...

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[–] 12 points 1 week ago (3 children)

GOOD.

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  • [–] 2 points 1 week ago (2 children)

    If you're hoping for a housing crash (beyond the 30% price reduction already experienced over the last few years) I hope you have a really essential job. Because a lot of people will have lost theirs.

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    • [–] 2 points 1 week ago

    I have Canadian citizenship, though grew up elsewhere. I did visit quite a bunch. I've long thought of living there for a few years, but the housing prices near to where I'd want to be (near my job, public transport, arts, etc.) just made me basically rule that out.

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