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RecessionInflation definitely has to be placed under control. When the price of a Vancouver tiny 100 year old house that needs a makeover is worth over 1 million then something is definitely wrong. The days of house flipping are probably over for now. Home sales in this town have come to a near standstill with buyers hoping prices will even be lower and interests along with inflation stable into 2023. Quote..... RBC predicts that the Canadian economy is on track for a “mild recession” in 2023,
with variables such as real estate, jobless claims, and delayed
economic ramifications of pandemic restrictions leading to GDP growth of
less than 1 per cent.Aug 15, 2022......Unquote..... The ones that may face some economic hardships are those who bought at the higher prices and just able to make those mortgage payments. They just may have to hang onto that newly purchased home for some time. It just may be a good time to pick up some good value stocks at lower prices. That is if anyone on the sidelines has cash to invest..... |
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Msg # | Subject | Author | Recs | Date Posted |
112240 | Re: Recession | ArdeeL | 6 | 9/22/2022 5:03:09 PM |