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The Masked Tulip

Canada Up?

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"The era of cheap money is just about ending. We've had a great time of it," said CTV's business editor Linda Sims Tuesday.
"This is now, though, the highest rise in interest rates we've had since back in 2001. And of course, we will immediately see the banks follow suit raising the prime rate, their variable rate on mortgages, and on lines of credit. So it's going to filter right through the economy," Sims added.

Bank of Canada raises key interest rate to 3.75%

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Cheap money is ending - damn right. Now watch the pain as they have to pay it back.

Must admit it's all starting to get a bit interesting now... here I was thinking that the world will have low interest rates and obscene house prices forever.... now it looks like the screw is turning by all the major banks ... er except for Britain... :lol:

Does anyone think that all the major banks around the world are somehow in cahoots with each other to go on a tightening mission ? Because they all do meet up don't they ?

Anyway - I want to see the BoE forced into raising rates, and it really is time that the aura of "stability" disappeared around Gordon Brown and that he and his economists are caught with their pants down.

This feeling that the era of stability has ended should hopefully be big enough news to cause housing market sentiment to change dramatically...

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Hopefully these raises will help Canada's house prices too. Again, unlike the UK they're fortunate to have an economy which produces things, and their bubble is fairly localised... so a price drop won't hurt much.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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