this post was submitted on 09 Jul 2023
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Raising rates will lower prices to some extent. So it should help somewhat. The issue is that's it's a very very blunt instrument. It just happens to be one of the only tools the BoC has to use. Ideally the feds would have stepped in at some poi t in the last 15 years to stop this madness...
Every level of government effectively ignored housing since the 90s. Unfortunately, we haven't really seen the effect of that policy decision until now, so it's really hard to go back in time and vote them out of office.
But I'd like to.