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02-24-2023, 10:26 AM
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#25076 | | RS.net, helping ugly ppl have sex since 2001
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Sweet Jesus I fucking hope so https://vancouver.citynews.ca/2023/0...opping-report/
Edit: maybe not
"While most economists think the central bank might be done with those rate hikes for now, as inflation dropped to just below six per cent in January, RSM predicts a more aggressive stance. It believes continued hikes through the middle of 2023 are to come, with the key overnight rate peaking at 4.75 per cent keeping financial conditions tight"
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02-24-2023, 12:05 PM
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#25077 | | Old School RS
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In my opinion, the "baseline" assumption is that the Bank of Canada is done with rate hikes, but does not even entertain the idea of cutting rates until 2024. US Fed on the other hand is expected to continue to raise rates.
In terms of risk/probability beyond the baseline, the risk in Canada is more to the negative than positive in my opinion. BoC does not really WANT to raise rates much more as the consumer is in a much more precarious position on average in Canada due to our significantly higher debt levels. However, they will have no choice if either a) Canadian inflation numbers start to trend the wrong direction OR b) the US dramatically trends towards higher inflation at which point there will be a breaking point where the spillover risk and also currency differential cannot be ignored by BoC.
-Mark
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02-24-2023, 02:50 PM
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#25078 | | Rs has made me the man i am today!
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Originally Posted by lowside67 In my opinion, the "baseline" assumption is that the Bank of Canada is done with rate hikes, but does not even entertain the idea of cutting rates until 2024. US Fed on the other hand is expected to continue to raise rates.
In terms of risk/probability beyond the baseline, the risk in Canada is more to the negative than positive in my opinion. BoC does not really WANT to raise rates much more as the consumer is in a much more precarious position on average in Canada due to our significantly higher debt levels. However, they will have no choice if either a) Canadian inflation numbers start to trend the wrong direction OR b) the US dramatically trends towards higher inflation at which point there will be a breaking point where the spillover risk and also currency differential cannot be ignored by BoC.
-Mark | Mostly agree except I suspect there's one more increase coming in March/May b/c of your 2nd point as the Feds expected to keep raising rates: https://www.aljazeera.com/economy/20...ation-heats-up Quote: |
The Fed has been expected to deliver two additional rate increases of 25 basis points in March and May, and financial markets are betting on another increase in June. The US central bank has raised its policy rate by 450 basis points since last March from near zero to a 4.5 percent to 4.75 percent range.
| If the Fed does 2-3 increases I think the BOC does one to sorta keep it close and possibly 2.
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02-24-2023, 03:06 PM
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#25079 | | Willing to sell body for a few minutes on RS
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My unprofessional opinion is to not keep hopes up of rates getting cut in 2024 unless the economy takes a massive dump and the unemployment rate spikes.
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02-24-2023, 04:36 PM
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#25080 | | I contribute to threads in the offtopic forum
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In 6 months time if the job reports continue to blow out expectations, rates are heading to the moon.
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02-24-2023, 06:24 PM
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#25081 | | Old School RS
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Originally Posted by supafamous Mostly agree except I suspect there's one more increase coming in March/May b/c of your 2nd point as the Feds expected to keep raising rates: https://www.aljazeera.com/economy/20...ation-heats-up
If the Fed does 2-3 increases I think the BOC does one to sorta keep it close and possibly 2. | I think with a hike of 0.50% in the US, BoC probably doesn't respond. If it's 0.75% or two hikes, gets more likely there is a response.
-Mark
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03-02-2023, 12:34 PM
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#25082 | | RS has made me the bitter person i am today!
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Surprised no one is talking about this cov 10%+ tax hike but there's rent caps.  | |
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03-02-2023, 12:38 PM
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#25083 | | I have named my kids VIC and VLS
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Canadurrrrr
Carbon tax going to be 30 cents a litre by 2030. On top of these “clean fuel” surcharges bla bla bla bla bla
Every cent that fuel/energy goes up, it’s not just your vehicle, it’s -everything- every single good or service you use will go up accordingly.
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03-02-2023, 01:03 PM
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#25084 | | I subscribe to the Fight Club ONLY
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Originally Posted by JDMDreams Surprised no one is talking about this cov 10%+ tax hike but there's rent caps. | The only outcome that I can see is -- more landlords won't be able to cover their costs, so they are going to have to sell.
IIRC, the new buyer must either:
1) continue to rent to the same tenant at the same rent
2) move into the property themselves and evict the tenant
It is conceivable to expect sales of this type to carry a slightly lower price than the going market rate because it would only appeal to a smaller group of target buyers. At the same time, I guess it will also drive up rent?
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03-02-2023, 01:08 PM
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#25085 | | I contribute to threads in the offtopic forum
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Originally Posted by JDMDreams Surprised no one is talking about this cov 10%+ tax hike but there's rent caps. | Probably because Surrey's hike is 17.5%.
Meanwhile, Burnaby is going up 3.99% and possibly 7% the next year. I guess boring is good.  | |
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03-02-2023, 01:17 PM
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#25086 | | in the butt
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Originally Posted by JDMDreams Surprised no one is talking about this cov 10%+ tax hike but there's rent caps. | Everything else is up by 10%, what's an extra 10$ a month in taxes for a 400k condo, or 100$ month for a 4mil detached home
Pocket change dawg
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03-02-2023, 02:02 PM
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#25087 | | I *heart* Revscene.net very Muchie
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Originally Posted by Traum The only outcome that I can see is -- more landlords won't be able to cover their costs, so they are going to have to sell.
IIRC, the new buyer must either:
1) continue to rent to the same tenant at the same rent
2) move into the property themselves and evict the tenant
It is conceivable to expect sales of this type to carry a slightly lower price than the going market rate because it would only appeal to a smaller group of target buyers. At the same time, I guess it will also drive up rent? | Correct. Only 1 increase per 12 month period.
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03-05-2023, 04:45 PM
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#25088 | | Ready to be Man handled by RS!
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Anyone have a recommendation for a roofer? Need repair on shingles for an area in the roof and maybe an assessment of shingle replacement overall.
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03-05-2023, 05:45 PM
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#25089 | | I subscribe to the Fight Club ONLY
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Kerrisdale Roofing And Drains replaced my roof last year. It was an asphalt roof shingles job, and their crew had been excellent. But I am not sure whether they'd only repair an area though.
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03-05-2023, 08:23 PM
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#25090 | | Rs has made me the woman i am today!
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guy on my block has a 430, 911 and range rover
just renovated to have an airbnb suite
times are tough 
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03-05-2023, 09:49 PM
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#25091 | | I subscribe to the Fight Club ONLY
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Sell the Range Rover, and his savings from no longer having to pay the repair bills would be enough to offset the AirBnB revenues already LOL~
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03-07-2023, 03:35 PM
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#25092 | | I *heart* Revscene.net very Muchie
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Originally Posted by StaceyQ Anyone have a recommendation for a roofer? Need repair on shingles for an area in the roof and maybe an assessment of shingle replacement overall. | Canuck Roofing
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03-07-2023, 08:32 PM
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#25093 | | RS has made me the bitter person i am today!
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Thoughts on the rate tomorrow? Word on the street is no subject and multiple offers are happening again.
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03-07-2023, 09:29 PM
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#25094 | | Old School RS
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It would be a very big surprise for anything other than staying unchanged tomorrow.
-Mark
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03-07-2023, 10:41 PM
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#25095 | | I subscribe to the Fight Club ONLY
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Was listening to some analyst on the news yesterday (or maybe Sunday), and the person does not anticipate a rate change tomorrow. However, the US is really in quite a different economic situation with a lot more inflationary pressure, and the Fed has indicated that they will continue to raise rates to stay on top of the inflation situation. As that happens, BoC will have no choice but to follow suit to a certain extent.
So for the BoC rate announcement in April, all bets are off.
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03-07-2023, 11:01 PM
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#25096 | | My homepage has been set to RS
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^^^hopefully none of you deal with a lot of US/CAD fx... It's going to be volatile AF if BOC doesn't raise rates.
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03-08-2023, 07:30 AM
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#25097 | | Rs has made me the man i am today!
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| https://www.bankofcanada.ca/2023/03/...se-2023-03-08/
BOC says no change this round. They seem to think inflation will drop to 3% by mid year while OTOH, if the US Fed keeps raising their rates (which they say they will) then the BOC might need to respond regardless.
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03-08-2023, 07:33 AM
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#25098 | | RS.net, helping ugly ppl have sex since 2001
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Originally Posted by supafamous https://www.bankofcanada.ca/2023/03/...se-2023-03-08/
BOC says no change this round. They seem to think inflation will drop to 3% by mid year while OTOH, if the US Fed keeps raising their rates (which they say they will) then the BOC might need to respond regardless. | Omg f Trudeau inflation and raising interest rates is all his and the libs fault.
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Originally Posted by skyxx Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good! | 2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold 100% Buy and Sell Feedback
Last edited by sonick; 03-08-2023 at 07:51 AM.
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03-08-2023, 10:52 AM
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#25099 | | I don't get it
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Originally Posted by sonick Omg f Trudeau inflation and raising interest rates is all his and the libs fault. | take a day off
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03-08-2023, 11:17 AM
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#25100 | | RS has made me the bitter person i am today!
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I'm not an expert in currency, but wondering if us is hiking rates so it can keep demand for it's currency to prevent collapse of their economy. They are already at their debt ceiling. Considering how much money they printed and the price of oil shouldn't cad be much higher   | |
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