BOC..... again

[macdon02]

So another hike. Wife works at major bank, first time home owner rate........ 6.45% last week before the hike. Was 5.3% June 7. Anyone priced a land mortgage today? This is gonna hurt

[bucket]

Yup and then add in Trump's ideas and Justin's ****ing stupid plan sending fuel prices higher ....

We are collateral damage in western canada....seeding it all to grass over the next few years is starting to look better every day.

or taking the 250k per quarter and just saying **** it...

[helmsdale]

God forbid this leads to any appreciation of the $CDN, and we have to buy all our inputs on a depreciated dollar, and sell our output on an appreciated dollar.

[errolanderson]

Apparently, more than 25% of Canadians cannot financially tolerate any rate increase impacting their monthly debt payments. Cdn bankruptcies will begin to rise (IMO).

What is the Bank of Canada doing?? . . . .

[Oliver88]

This could help cool off overinflated home prices which is overdue.

It could slow down the farmland price increases as well but it might not.

[seldomseen]

On a business point bucket's idea of taking the money and running might be the best.

There is an old saying that I haven't heard in a long time but used to hear the old-timers say it all the time in the early 80's "Living on the interest"

[macdon02]

​A recent Ipsos poll conducted by MNP LTD. finds Saskatchewan residents are finding it difficult to make ends meet – especially when compared to other provinces. One third (33%) of Saskatchewan debtholders say they have absolutely no wiggle room at the end of the month. And nearly half (48%) admit they’re $200 or less from financial insolvency. Even with a four point drop over the previous quarter, Saskatchewan residents are among the most likely in Canada to be near bankruptcy

Seems the data comes in a bong

https://mnpdebt.ca/en/blog/saskatchewan-residents-show-optimism-despite-persistent-debt-struggles

[biglentil]

Apparently, more than 25% of Canadians cannot financially tolerate any rate increase impacting their monthly debt payments. Cdn bankruptcies will begin to rise (IMO).

What is the Bank of Canada doing?? . . . .

They see the writing on the wall. Massive early 80's style price inflation. They are trying to put out a blaze before it turns into an inferno. Problem is any rate hikes cause massive structural cracks in the foundation of the economy built on funny money.

[bucket]

On a business point bucket's idea of taking the money and running might be the best.

There is an old saying that I haven't heard in a long time but used to hear the old-timers say it all the time in the early 80's "Living on the interest"

My dad lived on interest, bought land for SFA, got better prices than today when it actually bought something,,,,and paid cash...

this current farming cycle is crazy when I think about it.

If I farmed like dad i couldn't afford the fuel bill...he could....

But i guess everyone today can make it up on volume...lol.

[the big wheel]

This could help cool off overinflated home prices which is overdue.

It could slow down the farmland price increases as well but it might not.

Not going to happen. Foreign ownership rules are so lax they are pricing Canadians Into the poor house.

[blueversi]

​A recent Ipsos poll conducted by MNP LTD. finds Saskatchewan residents are finding it difficult to make ends meet – especially when compared to other provinces. One third (33%) of Saskatchewan debtholders say they have absolutely no wiggle room at the end of the month. And nearly half (48%) admit they’re $200 or less from financial insolvency. Even with a four point drop over the previous quarter, Saskatchewan residents are among the most likely in Canada to be near bankruptcy

Seems the data comes in a bong

https://mnpdebt.ca/en/blog/saskatchewan-residents-show-optimism-despite-persistent-debt-struggles

Not surprising, look at the amount of toys on the road every weekend, skidoos, boats, quads, travel trailers plus likely a payment on an over priced cabin then burning the fuel to get there. Just put it on the never never plan. Recreation is a priority and working isn't . Wasn't there an ad campaign back some years that touted Saskatchewan as a place to "work to live" not "live to work". Just relax, live it up everything will just take care of itself.

[food4u]

A budget will balance itself....