The grim news keeps coming on the economy front - especially for first-time homebuyers. realestate news realestatenews cdnpoli housingmarket
Well, the grim news keeps coming on the economy front — especially for first-time homebuyers.
enforced to combat high inflation. The higher they climb — and they are expected to continue to increase yet again — the worse the outlook is.And, while we hate to be the bearers of bad news, the recent doom and gloom reports are pretty impossible to ignore. “The worst is yet to come, and for many people 2023 will feel like a recession,” the lender’s chief economist, Pierre-Olivier Gourinchas, writes of the economy in the report’s foreword. “As storm clouds gather, policymakers need to keep a steady hand.”
stressed that the bank needed to continue to raise interest rates to tame down the economy and get inflation — something that’s taking a major toll on household finances of Canadians — under control.
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