Re:Billions in 'unknown' funds flowing into Canada's housing...
by zonkd1234 on Friday July 30, 2021 @01:03PM
(#28010014)
I agree. This is likely a result of central bank policies pushing rates down for so long. I bought recently because rates are so extremely low and the govt has committed to keeping them low for a long time. Rates went up very slowly after the Great Recession and this time will probably be the same. Add to that a growing population (here in Canada) and housing prices will probably keep going up a lot.
I believe foreign buyers is also a scapegoat in Canada. At first I believed it when home prices were only growing at obscene rates in the major cities but now it has spread to every tiny community in the country, literally from Newfoundland to the Yukon. This is a direct consequence of interest rates being too low for too long and capital having run out of good places to go (zero interest rates, equities at peaks, etc).