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Bank of Canada raises its interest rate to 5%
(www.cbc.ca)
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this post was submitted on 12 Jul 2023
186 points (98.4% liked)
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I think that's the intent right? How else are property values going to stop skyrocketing if no one is under any sell pressure?
Creating sell pressure is a tiny part of the solution. The real problem is supply. We need 10x the current build rate. Zoning laws, out dated transport infrastructure and greedy developers will ensure this remains a decades long problem.