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101 sats \ 2 replies \ @grayruby 16 Sep \ on: SN Daily Morning Bytes — Latest News and Updates news
Yes, Canadian economy looking weak. Tends to happen when you base such a large majority of the country's wealth on real estate prices at historically low interest rates.
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50 sats \ 1 reply \ @Undisciplined 16 Sep
Is there a lot of spillover from the Chinese downturn? At least in BC, that's the source of a lot of real estate demand.
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26 sats \ 0 replies \ @grayruby 16 Sep
Certainly at least a minor impact. Trudeau also instituted a foreign buyers tax and vacant home tax that slowed down foreign buying (which was primarily from China).
They dolts are between a rock and a hard place. Tank the real estate market and piss off the boomers who have all their wealth tied in it. Keep the real estate market inflated and piss off millenials and gen z who can never afford a home. Classic case of fuck around with fiat and centralized control and find out.
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