I am of the opinion that we have lots of affordable housing, if the feds would just let it go. This is over-steering at its worst.
Every luxury condo downtown in Toronto is empty. All office buildings are empty. Endless construction of housing and condos is going on. All supported by the banks.
The banks are allowing loans to zoom to infinity and beyond. Japan had this quite a few years ago, and the after-effects lingered for decades. We are going down this hell-hole.
Tons of fed money feeds inflation, and the poor Central Bank has to raise interest rates. And the feds will pour in more money, as the people whine. As the song says: "Let it go.". The banks have to finish the fantasy, and close the mortgages. The cbc will print the whining. Instead of focusing on the speculators that caused all this, they find the one-in-a-million stupid person.
Business cycles exist for a reason. When there is a bubble, like bittycoin, everybody piles in. Then physics hits. Same with all group-think. Such is life. Only we pensioners will dance in the old folks home, waiting for oblivion. :)
No comments:
Post a Comment