Quote:
Originally posted by Danch
WOW! Today interest rates dropped like crazy! Check out how many folks are buying houses down in Vancouver! That's awesome! Best buying in fifty years down there! Oh yeah, Canadian dollar jumped 2/3 of a cent today, allmost at the 78 cent mark.
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a buying frenzy is just going to drive the price of houses up. if the prices go way up, a 1/4 point reduction in interest rates isn't really going to help anybody. in fact if the frenzy causes inflated prices, a 1/4 point drop will likely still mean a higher monthly payment. oh well... buying frenzy = overly inflated prices, and by the time the housing market tanks, i should be ready to buy.
as for the dollar, that's good for us to buy from the states, but bad for Canadian exporters.