Condo market placing Canada in possible jeopardy….
A recent article in today’s Financial Post…”flashing” headlines of a possible risk to Canada via the Bank of Canada. What is surprising that of all main contributors to the Canadian economy..the focus has been on a market that is growing via international buyers. Bank of Canada needs to focus on how “international buyers” are able to purchase or “gobble up” the Toronto condo market..when lending for average Canadian citizen is stricter and tightened.
As well, exporters are “crying out” for a weaker Loonie…yet for over the past year or more…the Loonie has been stronger. There are many factors to a weakening economy, GDP, Retail sales, Housing price index, CPI, Unemployment data…they are contributors. Yet the main issue currently in the Canadian economy, private organizations increasing their “cash reserves” yet…not expanding “R&D”..and hiring. Public sector jobs increase…while private jobs are stagnant. There are more individuals opting for the “self-employment” direction…yet when it comes to loans..to grow their “start-up”…funds are low..and loans are rarely approved.
If central banks continue their “digital printing” press..then spread the wealth to the entreprenuers or companies that truly want growth in their country. Canada….are you listening???