Canadian real estate prices are rising, and that’s bad news if you’re looking for cheap credit. Statistics Canada (Stat Can) reported new home prices made the first increase in nearly a year. In a research note to investors, BMO warned the increase is just one of many housing data points that shows shelter is back to driving inflation. That helps to justify the recent central bank rate hike, and potentially opens the door to further hikes.
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Economists have a funny way of saying: You can only pick two: cheap house, high interest, born 20 years earlier.
It reinforces the need for hikes on the taxes of the owners of investment properties.
