The Bank of Canada (BoC) surprised the market with a rate hike last week, and BMO doesn’t think it was the last one. Canada’s economy is running so hot, the market now expects at least two more rate hikes. It’ll almost certainly lead to higher mortgage rates, which will throttle demand for housing at these prices. That’s not just a coincidence.
It’s going to keep happening until things get under control. Everyone should buckle down and save what they can.
For some of us it’s too late. Age and multiple almost back-to-back recessions have taken their toll.
It’s never too late. 😉
You can always try to make the best of the situation you have. I graduated into a less than ideal situation and two years later my job was basically folding. (thanks iPhone)
From there just kept moving and doing my best. That’s all any of us can do.
I’m 61 and can’t work anymore (due to multiple workplace injuries, etc) so on a fixed income, have mostly worked low-paying labourer jobs, finally been diagnosed with AuADHD so trying to find meds that work, and because of the late diagnosis I’ve had multiple burnouts (usually lasting a year or so each time) and am in fairly deep debt.
Trust me when I say it’s too late for me. Which is fine … just means I will likely be declaring bankruptcy soon so that should take a huge financial load off my shoulders.