1. Gee, who would have thought that 700 and 800 thousand dollar mortgages wouldn’t be affordable forever. They learned absolutely nothing from the 2008 housing bubble south of the border, or they just didn’t care. Blame the greed of the Banks and the individuals who have no idea what they can afford. That F you got in math is coming back to haunt you.

    1. If you don’t pay your mortgage, the bank owns your home. Same as its always been. The home owners walk away.

    1. Because it’s planned, not an accident or ineptness. The worlds a stage and we’re watching a movie. It’s all scripted down to the last detail!

    2. @Rob Davidson thankfully that’s been dealt with.
      Our worries in the long run?
      How to cope with money for the long haul
      We got greatness coming our way.
      5d to adventure on from there.

  2. Inflation is more like 25%. Most things went up 25~30% when you take into account both price and quantity. Unless you got a 25% raise in the past 2 years, you took a pay cut.

  3. BOC kept rates ultra low for too long up until last fall election (coincidentally?). Now inflation has arrived- who knew. The consumer reacted to ultra low rates that the BOC controlled not the other way around.

  4. The most indebted are the ones getting all the tax rebates, benefits and using all the social services. Especially those with children that really just live with the parent and are not supported by them by one nickel. Buy a bigger house.

  5. strange. the system that causes the trouble predicts the demise of households. does that make it ok?

  6. the whole joke here is the BOC allowed home owners to borrow millions to buy homes at 0% and now their alarmed. The BOC and all the banks, Realtors should be ashamed for this crises they helped fuel. But oh no don’t blame them blame the borrower’s this is sickening.

  7. Wasn’t chrystia freeland just bragging a couple months ago on how well Canada is doing economically? 🤔 that we have “no problems” and Canada is one of the top countries among the G7? 🤔 seems this is contradictory now doesn’t it.

  8. Say a $400 Mtg at 2%, a $1500 payment on renewal will be $1800. Add the high gas price and grocery inflation, increase of $500 monthly. Crushing families 🤕

  9. we’ve all known this for over a year. what is this guy doing every day to seem so surprised? That’s some high level incompetence

  10. So, ‘Canadians’ took mortgages? Why don’t we settle at this: ‘Banks’ gave risky mortgages and failed to assess borrower’s vulnerabilities. Why don’t we accept that ‘BOC’ let inflation reach so high that borrowers are in trouble now?
    Take some ownership! Don’t throw poor citizens under the bus

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