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Warhippy

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Everything posted by Warhippy

  1. Something the government will want to put a serious law in place for. Once things do slow down, or correct a great deal of these places will be purchased by foreign investors like the Zillow gang. We do NOT want to see that happen here if it can be avoided.
  2. This has been my wife's experience over the past 2 years. The great resignation is happening and rightfully so. people can leave companies they've been at for a decade and make ridiculous amount more with similar benefits because companies need to hire new people and people won't work for pennies anymore. Like, being with Rogers and watching your monthly bills increasing for zero increase in service, but watching new Rogers customers get lower bills, better service, monthly credits for X amount of months AND a new tablet or TV. But when you call and try to get your bill reduced you get told "I understand" and that's it.
  3. well 1.6 billion people I mean hey. It's totally believable But how do you hide port cities and shipping shutting down in todays world? Gonna be a tough sell on that one.
  4. Love your responses, I'll try to go line by line here. I am still wildly under qualified to understand this or BS my way through it. but wouldn't printing money only further exacerbate the inflation issue? To my knowledge it's been the decades long printing of money since 2008 that has affected the US and in part Canada. Add in the covid spending and wouldn't more only add one more straw to the poor camel? The article suggested that 53% of all people polled were within $200 of insolvency. That was 1 year ago. Everything now is that much higher and we now deal with fuel price shocks and rising rates to boot. Should the government step in, wouldn't that again; further exacerbate the issue because the likelihood of people getting that money over banks, mortgage lenders and companies like Zillow (whom I loathe for furthering this issue via iSales and digital investment flipping) is minimal. It just again appears to me that this would only furhter inflate the bubble and exacerbate the issue. China for only 6 weeks might be the best possible scenario. But what would even 2+ weeks of almost no manufacturing or production let alone shipping from China cause the current supply issues? 6 weeks with the building costs and supply issues existing would be even more pressure on an already over burdened system. Their variant is Omicron BA.2 which is what is hammering European countries and Africa right now. All told incredibly transmissible but also having a higher mortality rate than OMicron itself did. So this could go either way Iceland was interesting, and you're right I DID get that mixed up. it was their entrance in to the British markets that really hit them hard. Thanks for the correction on that. But the failure of their banks in the UK did not help anyone that's for sure. That's again correct. Again, thanks for the correction. I remember studying this in university. One single series of small time share/resort developments went teets up and it toppled everything for months. Looking at how interconnected everything is now and after 2008 was enough changed? Didn't the US rescind numerous laws and acts to prevent this under Trump? Didn't Boris also do the same rescinding of protections in the UK? What would happen if a similar shock were to hit with all the current existing issues right now in the world? I do not know what the difference in decades are but $100 billion in 1997 but if the calculator I am looking at is right it suggests just over $176 billion in todays dollars. But that's not entirely accurate because it's not just a dollar value it's the entire failure to follow if I recall. What would happen if Evergrande in China outright failed or Zillow in the US or another major property holder with todays issues? I don't want to consider it but I feel it can't be good. I forgot about the Franc issue. Was not totally up to speed on that but wow. Seems like case of shooting yourself in the foot doesn't it? My whole basis for these statements revolves around how over taxed everything already is. From personal debt levels in Canada. Suggestions of insolvency with minimal increases. Committing to further acts to further produce or forward these issues. It's not looking good man and while I am the least qualified person to make these claims I do question how badly things could get with even one or two issues popping up and what kind of cascade they could have. Rates HAVE to increase and 3% is a low estimate if what I am reading is accurate. That increase on top of food, fuel, construction, housing increases and enormous debt levels where even companies are having troubles paying their credit off makes me nervous.
  5. In certain areas I do not see a 30% reduction. Because they would be high value areas or areas where supply is simply non existent with people demanding to live there. Areas like the Okanagan maybe a 10% correction. But even IF the nation as a whole sees 30%, it is still insanely over valued and unaffordable for the majority. I firmly believe; in my opinion only, that there are way to many variables in play here for things to not correct. From affordability. Consumer and personal debt. Supply chain issues, endless printing of $$$ and an outright lack of supply. I speak with a number of old buddies who are still in trades and many of them are worried as general contractors because their costs have increased by 30% alone since September. My quoted cost for a new sliding patio door, new door (left swing) and a few new windows was only $7000 ish in September and is/was now $12000 ish as of 2 weeks ago. Almost none of that is an increase in labour costs. With cities forcing "infill" and "cluster housing" on to what was formerly single residence areas for duplexes etc. These costs will increase as well. A duplex used to be an affordable way to enter the market. Look at what a duplex is now worth in penticton https://www.realtor.ca/map#view=list&Sort=6-D&GeoIds=g30_c2fcx47u&GeoName=Penticton%2C BC&PropertyTypeGroupID=1&PropertySearchTypeId=1&TransactionTypeId=2&PriceMin=250000&PriceMax=800000&BedRange=2-0&BathRange=1-0&BuildingTypeId=2&Currency=CAD Only 2 of those are new. Anything being built right now without cost protection or pre purchased materials will be almost 30% higher. An average of $665k for a 3 bedroom 1100 sq ft duplex in a town with a median income of only $2500 is insane. I only do the doom and gloom thing because I can't see this as being sustainable is all
  6. Oxford study suggests potential correction of up to 24% in Canadian housing markets If the forecast of Oxford Economics holds true, home prices in Canada could fall significantly over the next two years, essentially erasing much of the skyrocketing gains made throughout the pandemic to date. A recent analysis by the UK-based international research group states home prices could drop by 24% between Fall 2022 and Summer 2024. The accumulated gains made over the last few years — the years leading up to the pandemic, and especially during the pandemic — have not been sustainable and have essentially created bubble-like conditions, but these are still dissimilar to the harsh conditions that led to the crash in the US housing market in the late 2000s. As of the end of 2021, Canadian home prices were 19% above the borrowing capacity of median-income households in Canada. And so far in 2022, this upward unsustainable trend has continued, with home prices by Summer 2022 expected to reach a level that is 38% higher than what most borrowers can afford. Last month’s national housing market update by the Canadian Real Estate Association (CREA) showed the country’s average home price was up by 21% year-over-year, hitting a new record of $748,450. “We believe this will cause the housing market to reach a breaking point, and crash under the weight of its own success before year end,” reads the report. Canadian home prices expected to fall 24% by 2024, realgin with household borrowing capacity by 2028. (Oxford Economics) Other factors that are driving Oxford Economics’ forecast of a home price downturn include the continued expectation that the Bank of Canada (BOC) will raise interest rates. This began early in March 2022, when the BOC raised its key interest rate from 0.25% to 0.5%, the first time the bank has increased its rate since 2018. Oxford believes the key interest rate will be increased three more times within the remainder of 2022, followed by more incremental increases through 2024 that will bring the rate to 2% by Summer 2024. Fixed-rate, five-year mortgage rates are forecast to go up by about one percentage point to 4.25% by the end of 2020 and eventually reach a ceiling of up to 5% by 2023. All of this has the effect of shrinking the borrowing capacity of households, which would put a downward pressure on demand. Other factors considered by the analysis include the federal government’s forthcoming new interventionist policies on housing demand, specifically the tax on house flipping, a ban on foreign home ownership, and a tax on vacant homes owned by non-residents. But even with a 24% drop, home prices in Canada would still be about 15% higher than before the pandemic, and it would lead to healthier market conditions that pair home prices closer to the reality of what Canadians can afford. Currently, this kind of drop is not expected to lead to a recession. But the analysis also outlines a possible worst-case scenario of a 40% home price drop over the same period, resulting in a crash similar to what the US housing market experienced in 2008. They emphasize that while this scenario is a possibility that would generate conditions for a potential financial crisis, it is highly unlikely. “The fallout from a housing crash would look a lot like the US housing meltdown during the global financial crisis, despite a minimal role for subprime lending in Canada,” reads the report. The forecast currently expects home prices to be in better alignment with the borrowing capacity of households by 2028, but the impact is likely to be uneven across the country. It should also be noted that Canada’s ambitious immigration targets — welcoming over 1.2 million immigrants over three years — are beginning to contribute to the country’s tight housing market, especially in the major urban centres of Vancouver and Toronto.
  7. Fears of rate hikes leading to potential correction "or worse" https://dailyhive.com/vancouver/bank-of-canada-bmo-housing-market-forecast All-time record low interest rates by the Bank of Canada intended to stimulate economic activity at the height of the COVID-19 pandemic’s dire economic impacts may have worked too well. Canadian households accumulated a massive amount of excess savings during the pandemic, worth about $300 billion in total. Households then took advantage of low rates and directed at least a part of their excess savings towards buying real estate. The high likelihood of forthcoming rate hikes now have the forecasters stating all signs point towards a downward trend in the housing market in both demand and prices, according to a new analysis by BMO Economics. “We wouldn’t be at all surprised to see prices flatten out at some point next year. While there’s room for discussion around the ‘lack of supply’ narrative, the recent surge in prices is demand-driven,” reads the analysis. “The calls for a housing crash and disorderly outcome for households have been consistently wrong for over a decade, but the latest surge in home prices could make things different this time. Look for housing to cool in line with the pace of rate hikes. However, if policy rates climb above prior cycle highs, we’d be in uncharted territory and could be in for a correction or worse.” In the previous cycle between 2017 and 2019, when Bank of Canada policy rates jumped from 0.50% to 1.75%, the average household interest rate rose from 3.72% to 4.37%. If this rate returns to 1.7% and shifts the average household interest rate back to 4.37%, the additional interest cost will total about $27. Between 2017 and 2018, Bank of Canada increased its policy rate three times — 0.75%, 1%, 1.25%, 1.5%, and then 1.75%. This rate increase cycle dampened the pace of home price increases, along with new interventionist measures by governments through taxes to slow down the pace of demand. This pushed the annual increase in home prices from the high teens double-digit percentages to almost 0%. In response to COVID-19, the policy rate of Bank of Canada went down three times in March 2020 — 1.25%, 0.75%, and then the historic low of 0.25%. On March 2, 2022, Bank of Canada raised its policy rate to 0.5%, marking the first time the rate was increased since 2018. With more increases expected this year and possibly into 2023, analysts with BMO state the potential for home price declines is higher this cycle as many cities have seen “prices go parabolic” recently. However, they add that for this reason, the Bank of Canada is not expected to overdo its rate increases. Homeowner equity is currently at a record high of 76.5%, which means “anyone who bought a home before the latest run-up [in prices] should have a decent amount of equity cushion if prices drop.” Household debt has risen in recent months, alongside the housing boom. The debt-to-income ratio has since returned to the highs of 2018-2019, now that pandemic government support programs have ended. “Over the past few decades, interest rates have been falling consistently. Policy rates have seen lower highs and lower lows, and the same can be said about term mortgage rates. All of that has led to persistently rising household debt burdens,” continues the BMO Economics analysis. “The warnings on the housing market and household debt will no doubt multiply in the weeks and months ahead as the Bank of Canada pushes rates higher.” But debt growth slowed in 2018 when interest rates increased, which is expected to repeat to an extent for the current cycle. Earlier this year, a separate analysis by UK-based international research group Oxford Economics issued a forecast that predicted a Canadian home price drop of 24% between Fall 2022 and Summer 2024. At the end of 2021, Canadian home prices were 19% above the borrowing capacity of median-income households in Canada. And so far in 2022, this upward unsustainable trend has continued, with home prices by Summer 2022 expected to reach a level that is 38% higher than what most borrowers can afford. With all that said, strong, record-breaking immigration will be a steady source of demand for housing, especially in the heated markets of British Columbia and Ontario, the main destinations for new immigrants.
  8. RBC is sounding the alarm on the worst ever affordability for housing in Canada Housing affordability in Canada was at its worst level in 31 years at the end of 2021, according to RBC Economics, which is warning that there’s no relief in sight for the country’s already-stretched homeowners. Almost half of median pre-tax household income (49.7 per cent) would have been required to cover mortgage payments and other costs tied to owning a home, on an aggregate basis, in Canada in the fourth quarter of last year. That was an increase of 7.5 per cent from a year earlier and almost nine percentage points higher than the average since 1985, according to a report released Wednesday. Affordability was even more daunting for the owners of single-detached homes, which RBC estimates would have chewed up 54.6 per cent of median pre-tax household income. ` "Rapid price escalation in the early months of 2022 has already raised the bar to impossible levels for many homebuyers," wrote RBC Assistant Chief Economist Robert Hogue in the report. "And with the Bank of Canada now in the process of hiking interest rates materially—we expect a total increase of at least 150 basis points in the coming year—ownership costs look set to spiral even higher. Worst-ever affordability levels could well ensue, putting buyers in a precarious spot." It's the second time in as many days that an economist from one of the Big Five banks has sounded the alarm on Canada’s housing markets. Robert Kavcic from BMO Capital Markets wrote in a report to clients Tuesday that he thinks there is a "full-scale attack on Canadian home prices" as interest rates rise and amid tax interventions by the Nova Scotia and Ontario governments. Kavcic said in an interview Wednesday there is "real fundamental strength" driving up home prices, but the magnitude of the surge — which sent the Canadian Real Estate Association's home price index up by a record 28 per cent year-over-year in January — convinced him there is "quite a bit of froth" built on top of the basic supply and demand dynamics that are at play. Similarly, RBC's Hogue acknowledged in his report that there are some "good reasons" why home prices have climbed, but that "the extent to which prices have appreciated clearly went beyond what solid fundamentals would suggest in many parts of the country." Among the markets tracked by RBC, homeowners in Vancouver face the most challenging conditions, with 73.9 per cent of household income going toward servicing ownership costs in the fourth quarter, up nine per cent from a year earlier, at an aggregate level. Digging a little deeper, RBC estimates 99.7 per cent of household income would have gone toward ownership costs for a single-family detached home in Vancouver in the quarter. The most affordable market in the country was St. John's, where RBC's aggregate affordability measure inched up 1.2 per cent from a year earlier to hit 21.8 per cent in the final three months of last year. And even though the affordability measure for Halifax was just 32.5 per cent in the quarter, Hogue wrote in his report that "affordability is under siege" in the city, which he said might be the country's hottest housing market. The outlook for affordability is looking increasingly challenging as the Bank of Canada takes aim at inflation. Hogue cautioned in his report that homebuyers are more sensitive to rate increases than they were previously. And he estimated that if the Bank of Canada raises its main policy rate by one and a half percentage points, as RBC expects, it would drive up the housing affordability measure by more than seven percentage points. "While income gains will provide a partial offset, it’s entirely possible RBC’s measure could spike to all-time highs in the year ahead,” he wrote. “A shock of this magnitude would severely stress homebuyers and exert significant downward pressure on demand.”
  9. News from the US https://www.cnn.com/2022/03/30/homes/us-housing-market-bubble/index.html' US home prices have soared to new heights and keep on climbing, and now some researchers and economists are saying they have seen signs of a housing bubble brewing. Home prices are rising faster than market forces would indicate they should and are becoming "unhinged from fundamentals," according to a new blog post written by researchers and economists at the Federal Reserve Bank of Dallas. Until recently, the possibility of a bubble wasn't widely supported. But after looking at housing markets across the US, the Fed researchers said new evidence is emerging. "Our evidence points to abnormal US housing market behavior for the first time since the boom of the early 2000s," the researchers wrote. "Reasons for concern are clear in certain economic indicators ... which show signs that 2021 house prices appear increasingly out of step with fundamentals." Many Americans are still scarred by the last housing crash in 2007, which was fueled by cheap credit and lax lending standards that resulted in millions of homeowners owing more on their homes than they were worth. But this time, the economists said they are worried about a different scenario. Just because home prices are rising wildly does not always mean housing is in a bubble. And there are lots of reasons why home prices have risen steadily over the past decade -- and shot up even more significantly in the past two years -- including supply and demand imbalances in the market, rising labor and construction costs and how high or low the interest rates are for a mortgage, the researchers pointed out. But they said prices may be rising to a point they call "exuberance," in which prices become increasingly out of sync with the economic fundamentals underpinning the market. One possible reason, they suggested, is that buyers may believe prices will continue to climb and fear they will miss out on snagging a lower price on a home now and get stuck paying more later. This fear of missing out, or FOMO, effect can drive up prices and heighten expectations of higher prices ahead. That can create a self-fulfilling prophecy, researchers said, in which price growth can become exponential. The consequences of housing market exuberance can include overpriced homes, investments based on distorted expectations of returns and reduced economic growth and employment. The cycle is interrupted when policymakers intervene, spurring investors to become cautious and causing the flow of money into housing to dry up. This could cause a housing correction or possibly even a bust, according to the blog post. The researchers recommended policy makers and market participants closely watch local markets for booms in prices in order to better respond, "before misalignments become so severe that subsequent corrections produce economic upheaval." Bubble brewing The behavior of homebuyers and sellers over the past two years has been anything but normal, the researchers pointed out. Prices are at record highs and continue to move higher because there has been record low inventory. Still, homebuyers keep buying. Interest rates fell to record lows during the pandemic, but that does not alone explain the housing market frenzy, they wrote. Other factors have played a role in pushing the market into bubble territory, the Fed researchers wrote, including pandemic-related stimulus programs and Covid-19-related supply-chain disruptions and associated policy responses. The researchers specifically highlight the role of investors, who are aggressively buying up homes. Investors now buy 33% of the homes in the US, which is a 5% larger share than the average over the past decade, according to John Burns Real Estate Consulting. The business of ibuying -- in which a company buys a home for cash to slightly fix it up and resell it again -- is only 1.7% of the national housing market in the last quarter of 2021, according to Zillow. But in some cities, the share of homes going to ibuyers is as high as 11%. The researchers found that as prices have risen signs of exuberance have emerged. The US housing market has been showing these signs for more than five consecutive quarters through third quarter 2021, they found. Fed researchers also looked at the relationship between home prices and rents. They found that since 2020, the home price-to-rent ratio has rapidly skyrocketed beyond what market fundamentals can explain and began showing signs of exuberance in 2021. Another indicator the researchers examined was the ratio of home prices to disposable income, which is closely tied to affordability. This home price-to-income ratio is increasing quickly, but not yet exuberant, the researchers said. Silver linings A lot was learned from the last housing crash, which has led to better early detection and warning indicators of housing bubbles, the researchers wrote. If these concerning trends continue, banks, policymakers and regulators ought to be better equipped to quickly react to avoid the most severe, negative consequences of a correction. In addition, they wrote, there is no reason to expect any resulting correction would impact homeowners or the economy as significantly as the last housing crash. Americans are generally in better financial shape, homeowners have stronger equity positions and excessive borrowing is not as rampant as it was in the mid-2000s.
  10. That's my stomping grounds! I'd suggest Mr Baldy in Oliver for affordability. Apex is less than an hour away and you're still on a ski hill
  11. How do they think they can hide this
  12. Because why not try something new. It's not bad really. Bit sharp, bit the price point will get it done for you.
  13. HAhahaha I now have 103 total bottles of whiskey, bourbon...booze in general. I have enoguh to weather the storm! And no sir. Canada is anything BUT safe. We owe, as a nation per person something like $1.70 for every dollar earned in debt servicing. The average person from a former MNP survey from last April, said they were a mere $200 a month in additional payments from insolvency. 53% of that survey and that was year ago before gas, food, housing all spiked like mad and now rates are increasing https://www.bnnbloomberg.ca/53-of-canadians-within-200-a-month-of-insolvency-mnp-1.1587379 I'd say if anything, we here in Canada are more exposed than anyone could believe or would want to believe.
  14. Hearing that some nations run the risk of potential default as well if rates increase to high which is absolutely beyond baffling to me. This is from last year. $200 from 53% of respondents in new spending, would be enough to send them to insolvency. That $200 would be the equivalent of rates going up to 2% on a $400k mortgage. without mentioning credit card debt, car loans, variable lines and reverse home loans/mortgages of that nature. This covid shut down of China could be the proverbial straw that broke the camels back. Hell, people forget but the Icelandic banking crisis. That was brought about by one single series of developments in the Philippines (or was it thailand?) going teets up as part of the holdings of Lehman Bros. it was the first major eye opener to the issues of an interconnected global economy before the entire thing tumbled. This is interesting. Wanna take it to the inflation thread?
  15. Between what has happened in housing and personal/consumer debt and the issues with Ukraine/supply chain and pandemic I expect to see a 50-60 year high announced soon. Interest rates as indicated could hit 3% to 5% within 6 months with rumours that fixed rate mortgages and loans might also potentially be at risk somehow Things gonna get ugly soon A lot of businesses and people have been playing fast and loose with credit and loans since 2009. Something has to give. Over a decade of essentially printing money and near negative interest rates for consumers and businesses has kind of made people complacent. one of the scariest numbers not reported or recorded is reverse home loans or whatever those are. It was billed and geared towards retirees wen it was first created but now people have extended their lines of credit and spending by using reverse home loans/mortgages to purchase, spend and enjoy life a little more. I actually know of a few people that do or have done it a few times since 2009 to take advantage of artificially low rates. Buy a new vacation property using that loan as a downpayment. hey a new car, oh we need a time share. Let's renovate the new place. All on credit, loan or the like. Reading in to things about seeing an additional $500 per month tacked on to the average loan of even $400,000 if rates hit 3.5% or there abouts is frightening. because reports indicate that even $280 a month in new spending would send tens of thousands in to potential insolvency; and the majority of new mortgage holders have mortgages far far in excess of $400k Gonna be interesting.
  16. Some potential relief on the food front. Beef MAY get cheaper; but I doubt it https://www.thestar.com/business/2022/03/30/class-action-lawsuit-filed-in-quebec-against-meat-packing-companies-for-price-fixing.html
  17. I am reading about unreported shut downs in port cities and river cities that see goods transported away from highway to the coast. Am also hearing of major factory city shut downs as well that are not being reported due to the worry about potential shocks to the Chinese economy that is still a tad shaky after that Evergrande collapse. One more major hit to supply chains and the carbon tax increasing the price of essentially everything as of tomorrow (oil companies will be happy to jack things up by 15 to 20 cents a litre and let the government take the heat) is the last thing we need to see here. Think covid was a health crisis? Well I do too. but the potential economic storm coming is kind of frightening in its own way
  18. So after everything is said and done you'll still walk away over $400k ahead after taxes/fees and closing costs + your initial investment. That $600k+ will be an amazing nest egg for you and I dare say, gold is mighty hot right now for an investment.
  19. And mortgage rates in the US are now spiking. https://time.com/nextadvisor/mortgages/mortgage-news/mortgage-rates-rose-again-amid-inflation-ukraine/ Food and Fuel costs are skyrocketing leading to a 40 year high in the US. https://abcnews.go.com/US/wireStory/key-inflation-gauge-sets-40-year-high-gas-83783473 Consumer inflation at 30 year high in Canada PRIOR to the issues in Ukraine https://www.bloombergquint.com/global-economics/inflation-hit-5-7-in-canada-before-prices-spiked-on-ukraine-war From a purely domestic point of view this is a bad thing. but looking at these stories being literally commonplace among the G 20 right now shows how much of an issue and how on the brink the world is to economic failure. Good times.
  20. Don't feel bad. It will literally set you up for life. I bought my house for $422,500 last year. I was offered $700,000 for it. I asked one of the realtors I shoot for if I could get $800,000. He laughed and said $800k might be a bit high, ask for $850k instead. He wasn't kidding. At all. I've been back and forth for almost 5 years on moving to Airdrie or Okotoks Alberta because both of my daughters have indicated their educational aspirations would be best served in the Calgary area or UVIC. For their financial health, Alberta would be the best bet because the island is entirely unaffordable. A good friend of mine who's daughter just turned 19 is looking at a $300k apartment/condo for his daughter just off campus from SAIT because she can't afford UVIC. For my wife and I, we have a sizeable nest egg and a potential $800k home sale in front of us. For our daughters to be ensured that they'd have a home in the area to not only live while going to university to save up while also having privacy we've considered moving to the area again https://www.realtor.ca/real-estate/24187924/2825-prairie-springs-green-sw-airdrie-prairie-springs https://www.realtor.ca/real-estate/24189381/838-fairways-green-nw-airdrie-fairways Looking at those listings, I had to find a comparable in Penticton or the Penticton area. The closest for age, size and suitability started at $1.2 million. Do what you feel is necessary my dude. It sucks, it hurts but selling now and cashing in also sets you up VERY well for when the markets do in fact implode; which I firmly believe is in fact a certainty within the next 14 months for numerous reasons. Having a million ish in disposable cash to invest once housing tanks by 30% to 50% will set you up very very well.
  21. Brace yourselves. Here it comes. The soft landing they are hoping for might turn out to be a vertical thud https://www.cbc.ca/news/business/interest-rate-analysis-1.6402439 For Carlos Capistrán, an economist with Bank of America, strong language like that from a central banker is a clear sign that "everything is on the table," when it comes to bringing down inflation. That type of tough talk is the banks' way of saying "We're really going to fight this forcefully if we need to," according to Capistrán. It's why he's hiked up his rate forecast since Kozicki's speech, to include not just one but three big hikes in quick succession. He's now projecting the central bank to hike by 50 points at each of its next three meetings in April, June and July, and follow those up with smaller ones after that into next year until the bank rate sits at 3.25 per cent. That's almost double the 1.75 per cent the bank's rate was at before the pandemic, and you'd have to go back to 2008, before the financial crisis, to find the last time the rate was that high. To Capistrán, the reasons to speed things up are obvious. "Inflation is pretty high, the economy is really hot, the labour market is really hot in Canada and the [U.S.] Fed is about to hike 50 basis points as well," he said in an interview. "So there are a lot of reasons why they may be more aggressive than usual this time around."
  22. Genuinely want to see the team just play youth. All of it. Please do not hustle towards or for mediocrity. Could have picked a direction a week ago and we didn't. So instead of literally fornicating our way to the middle, let's at least try to draft one of those nifty RHD in this year's draft....or even win it
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