Quote:
Originally Posted by sonick
The oil crash really fucked things up for them in terms of raising rates. They really are in a rock and a hard place here.
Heard they are expecting not until the end of 2015 for it to go back up.
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All I can think of is that 2015 will be a year to remember as far as Canadian economy goes. Especially for those in their 20s~30s.
It might be the first time in their adulthood that they see Canadian economy tanking big time.
Should the loonie drop further too fast, the housing market will see some fire sales for those investors who can't wait it out. Sure many of them bought in cash and all, but it means that their 1M CAD property, which cost them about 1M USD when they bought it originally can worth as much as 30% less (in USD terms) within this year. And how long would it take to recover is anybody's guess.