Canada inflation hits 18-year-high

[smitty55]

Just wait until the interest rates go up.

Yep, once that happens all those folks that tapped themselves out to buy a home at those low rates will be in big trouble.

[410001661]

Inflation is alive and well in Canada I have witnessed this first hand by people installing pools, hot tubs and renovating their homes in hoards - kitchens, bathrooms, offices and basements are the most popular. Material and trades are in short supply and usually have a longer than normal lead time so planning ahead is very important.

I did a job last month and when it was done I left the homeowner with a $1,800 Lutron lighting system proposal for his house and he did not even bat an eye........next day he called me and said 'let's do it'. Now the material waiting game begins.

[Gilroy]

Cash parked, waiting for impending housing market collapse.
If I'm wrong, then economics no longer makes sense ...

Well Mark you appear to be a complete dreamer, not going to happen, not for cottages, vacant land, commercial, residential.

The country is set to do the following https://www.canada.ca/en/immigration...2021-2023.html

Where do you think these people will live, answer in a home presently occupied by a Canadian and who will be paid BIG MONEY for that property.

Economists do not make sense, I thought after watching the Wall Street Crash, Bank collapsing, sub prime debacle ,you might have got the memo.

[grumpygeezer]

Well Mark you appear to be a complete dreamer, not going to happen, not for cottages, vacant land, commercial, residential.

The country is set to do the following https://www.canada.ca/en/immigration...2021-2023.html

Where do you think these people will live, answer in a home presently occupied by a Canadian and who will be paid BIG MONEY for that property.

Economists do not make sense, I thought after watching the Wall Street Crash, Bank collapsing, sub prime debacle ,you might have got the memo.

so are we flooding the country with liberal handouts and subsequent votes?????

[Gilroy]

so are we flooding the country with liberal handouts and subsequent votes?????

Not quite the economic class of immigrant's are the one's coming with money to invest in Canada, that is why anyone hoping for a collapse in real estate prices is dreaming. Will they vote Liberal when they become citizen's when they get the right to vote, who knows.. a business man from China might well vote Conservative.

[mosquito]

Yep, once that happens all those folks that tapped themselves out to buy a home at those low rates will be in big trouble.

Well if they are Conservative voters they will take course, work hard, get a part time job, take in a renter.... or whine, ask for handouts and special treatments, take on bigger mortgages (I know one die hard leftie that has had his house 30 years and last we talked his mortgage was now about 30% higher than the original price) if they voted the other way.

[Gilroy]

Well if they are Conservative voters they will take course, work hard, get a part time job, take in a renter.... or whine, ask for handouts and special treatments, take on bigger mortgages (I know one die hard leftie that has had his house 30 years and last we talked his mortgage was now about 30% higher than the original price) if they voted the other way.

Oh I am a Liberal voter, paid of my first home in 5 years by taking in a boarder in the basement and my wife and I both working and killed off both mortgages. The second home I paid off in 5 more years. So I have been mortgage free for over 25 years. My wife stopped working 25 years ago to raise 3 great kids into tax paying citizens.
Now mind you I drive a 21 year old GMC Safari and my wife a 2004 Toyota so I guess I would put some Conservative voters to shame. I also managed to employ a few folk's up north to get my cabin built along the way.

[mosquito]

Oh I am a Liberal voter, paid of my first home in 5 years by taking in a boarder in the basement and my wife and I both working and killed off both mortgages. The second home I paid off in 5 more years. So I have been mortgage free for over 25 years. My wife stopped working 25 years ago to raise 3 great kids into tax paying citizens.
Now mind you I drive a 21 year old GMC Safari and my wife a 2004 Toyota so I guess I would put some Conservative voters to shame. I also managed to employ a few folk's up north to get my cabin built along the way.

.... and yet you support the Liberals.... doesn't that suggest some kind of dissonance or misalignment in mental/moral priorities or have you so disassociated morals with the party you support with their actions so it doesn't make you think?

[410001661]

Oh I am a Liberal voter, paid of my first home in 5 years by taking in a boarder in the basement and my wife and I both working and killed off both mortgages. The second home I paid off in 5 more years. So I have been mortgage free for over 25 years. My wife stopped working 25 years ago to raise 3 great kids into tax paying citizens.
Now mind you I drive a 21 year old GMC Safari and my wife a 2004 Toyota so I guess I would put some Conservative voters to shame. I also managed to employ a few folk's up north to get my cabin built along the way.

Sounds like the good 'ole Canadian dream......why would you wreck it by labeling something a Liberal or a Conservative thing to do? Some of my best customers are silly servants (teachers, firefighters and cops) and when they call me to do work for them they all want a deal and are all willing to pay CASH to save a couple of bucks. I wonder how they voted in the last election? I could care how they voted because they are padding my TFSA and RRSP.

[MarkB]

Well Mark you appear to be a complete dreamer, not going to happen, not for cottages, vacant land, commercial, residential.

The country is set to do the following https://www.canada.ca/en/immigration...2021-2023.html

Where do you think these people will live, answer in a home presently occupied by a Canadian and who will be paid BIG MONEY for that property.

Economists do not make sense, I thought after watching the Wall Street Crash, Bank collapsing, sub prime debacle ,you might have got the memo.

I'll wait and see. My money is on, interest rates will go up sooner or later ... that will cause a credit crunch, properties, especially cottages will correct.
Canada is not too big to fall. You do remember what happen to our much bigger brother down south right, in 2008. It bode well for anyone that went shopping for homes in Florida. I'll wait it out ... thank you.