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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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Everyone who is currently about to fail to stay afloat passed those stress tests. Staying "within your means" is entirely relative to the borrowing environment. There's no reason to gloat. You won't win in this scenario -only cash-flush corporations that can swoop in and convert housing to rentals.