Cielo condos at 300 bloor st w . Buy a house when house prices go up. Despite early signs of overheating in the Canadian property market, Bank of Canada Governor Steve McClaren has yet to plan to raise interest rates and is still waiting for the economy and jobs to get back on track after the recession caused by the epidemic.Please Visit: Cielo condos at 300 bloor st w to Get Your VVIP Registration Today!
On Tuesday, he said in a remote interview with the joint chamber of commerce in Calgary and Edmonton that the economy will continue to need monetary stimulus, which may not be until 2023. Although there are already signs that monetary stimulus may be distorting the residential property market.
In response to a remote question from a listener, Mr McClaren said: “there is a risk that the housing market will get out of control when interest rates are low for a long time, so this is an issue that we will pay close attention to.”
Some observers have expressed concern that the Canadian property market is growing at an unsustainable rate, leading critics, including some in the real estate industry, to worry that once interest rates finally start to rise, there will be a devastating bubble.
While McClaren expressed concern, he said that while the Bank of Canada expects the economy to start to improve by the end of the year, the high unemployment rate among Canada’s most vulnerable groups means the economy will continue to need assistance.
“because women and young people occupy a large number of jobs in the hardest-hit industries, their unemployment rate is particularly high compared with other groups,” McClaren told the audience. ” He added that many of the jobs that have disappeared will no longer appear.