The Bank of Canada's Decision to Increase Interest Rates

In 2020, the governor of the Bank of Canada said publicly in a press conference that if you are looking to make a large purchase and adds, adds debt, now is a good time to do it. A ton of people went and bought homes in Canada in like places like the West Coast where it's the most expensive real estate on the planet. And again, record low rates. Inflation went up like crazy. So everybody's already been being pinched by like, oh, I can't afford groceries. Eileen: "It's either foreclosures and throwing in the towel or like, stay in the house that you're effectively renting"

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