๐จ๐ฆ The Bank of Canada told Canadians in 2020 to:
Buy a house
Buy a car
Borrow โ rates would stay low โfor a very long timeโ
Then they jacked rates at the fastest pace in Canadian history.
In 2020 Canadians locked in 5 year mortgages, 1.2 million mature within 12 months. They are facing double some triple interest rates (today)
Now?
๐ป100,000 jobs lost
๐ฅReal estate smashing into a wall
๐ฃ120,000 more job losses expected
Tiff Macklem caused the crisis in 2020.
Now heโs doing nothing to fix it.
And the Bank of Canada bonuses? Likely $26 million in 2024. We are waiting for the Bank of Canadaโs financial statements they are 1 month late based on historical reporting release dates.
You canโt make this up.