Small interest rate cut not enough to get most Canadians off housing market sidelines: poll

Подписаться 4,4 млн

Просмотров 12 тыс.

50% 1

"That’s good, but it’s not enough" - that's the overall sentiment about the first interest rate cut from the Bank of Canada in more than four years, according to polling that was conducted exclusively for Global News by Ipsos.
Among other ideologies associated with this welcomed, but seemingly overdue cut, the poll results show that 62 per cent of Canadians say they've given up on ever owning a home - 10 per cent less than before - suggesting it gave at least some hope about future home ownership.
Global's senior business reporter Anne Gaviola has more on the psychological impact of this shift in monetary policy.
For more info, please go to globalnews.ca/...
Subscribe to Global News Channel HERE: bit.ly/20fcXDc
Like Global News on Facebook HERE: bit.ly/255GMJQ
Follow Global News on X HERE: bit.ly/1Toz8mt
Follow Global News on Instagram HERE: bit.ly/2QZaZIB
#GlobalNews #BankofCanada #CostofLivingCrisis

Опубликовано:

1 окт 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 54

@BarbaraPearson55 3 месяца назад

Absolutely. And with the fear of not being able to retire comfortably, people might be tempted to make risky investments or neglect proper financial planning, which could spell trouble for their portfolios in the long run.

@ting280 3 месяца назад

they raised it a lot and lowered it a little and expected us to celebrate

@markamd1 3 месяца назад

@1:27 This is a very old video from 2008 that Global had used before....Notice the Blackberry, Calculator and very old Laptop? Shame on you Global!

@peej91 3 месяца назад

Buyers are getting smarter

@cherrieleung9080 3 месяца назад

Like Walmart... need to roll back.. at least 2.5% - our econ will be more stable. Now.. everyone is bankrupted with food cost, material cost.. the savings are gone.

@TT-fq7pl 3 месяца назад

Depends on who you are. Apparently Canadians are sitting on billions of dollars of savings.

@kapasitorcpt9249 3 месяца назад

and considering that it is questionable if the bank of canada did the rate cut to politically help the liberals or actually because it was a good move, the only way to know how good the rate cut was is if inflation doesn't go up (economically we where in stagflation via the definition of it not by what politicians said).

@HaviccB 3 месяца назад

Wait for lower rates and for all the people who outbid you by 50k over asking to default. Get a house for a song

@MikeyMike923 3 месяца назад

.25% isn't going to make anything more attainable by those people in the 10%.

@sefrzan 3 месяца назад

no one has a 10% mortgage, rubbish

@amangrayfilms1538 3 месяца назад

Interest rates are going up, according to the 2 year treasury yield. If interest rates go up to 10%, the it's easier for people to get into the housing market. Higher interest rates causes deflation [aka recession]. Cutting interest rates benefits current home owners because prices go up for there homes that they already own.

@Observer168 3 месяца назад

Anyone thinking high interest rates will allow you to buy a home is a fool. Everyone buys a home based on how much they can afford on the monthly mortgage. The current sweet spot is at around $5000 per month. The current cost to rent is around $3000 and any renter in Canada would buy a house if the monthly mortgage even came close to the cost of renting. There aren’t even enough homes for sale if that ever happened. Nobody would be renting. There are literally millions of Canadians sitting on the sidelines right now. It would be a free for all if anything becomes even close to affordable and will sell to the highest bidder. People would even buy multiple homes.

@Averyn83 3 месяца назад

A quarter percent is a joke. The national bank profits billions of dollars, just as the big banks do in Canada. If they truly wanted to help Canadians, they would cut the interest rates back to pre Covid rates. The government needs to cut back spending and inflation would drop, helping out families.

@dsbarclayeng1 3 месяца назад

This fixation on interest rates hides the underlying problem: Far too many people chasing, far too few homes. End of story.

@abc-o4o 3 месяца назад

Allow farms can build 1 extra house every 10 acrs. 100 acr = 10 house on the same property. It will allow people more option to invest and move to farm land. For a 100 acr farm, 10 people can invest together and shear the land. In addition, easy the regulation regarding mobile homes or tiny house.

@joelmcneney5366 3 месяца назад

Buy home then have kids.

@JessT-vg7ib 3 месяца назад

We need to devalue our currency and increase immigration.

@bobowon5450 3 месяца назад

prices would have to drop by over 50% for housing to become even slightly reasonable.

@bobowon5450 3 месяца назад

@@josephsmith594 I'm not saying what I've suggested is even possible at this point, I'm just saying that's what would need to happen to fix the housing market. The fact that it's basically an impossible goal is just to show how far things have gotten

@Don-ex5ih 3 месяца назад

There should be news for Canadian who bought house and how are they managing it

@bobwoods1302 3 месяца назад

Same way they would manage high rents except they are paying rent to themselves and have equity.

@JasneetSingh 3 месяца назад

0:21 Everything in life is a bill. Welcome to adulthood!

@ethanbarc 3 месяца назад

Congrats on building homes in Canada 🇨🇦

@twinsiesyt 3 месяца назад

The RE market has never seen anything like this in over a decade. I am sorry but the Rate will come down real hard. The damage is done too much.... BOC failed again. Too late cutting rate. When that happens, RE market will go nuts again. There is always delay when it comes to what going on and what is seen. On the ground recession is in full swing. BOC again looking at yesterdays data and late late late.

@Averyn83 3 месяца назад

The boc only cares about how much profit they can make. They don’t care about the people. The higher the interest the more profits for them.

@CanadaAffairs 3 месяца назад

They are waiting for prices to DROP and Not Interest rate. Price needs to make sense!!

@thamchidance9847 3 месяца назад

👍👍👍♥️♥️♥️

@emarydrilling 3 месяца назад

1/4%only concerns the elitr

@maybehuman4 3 месяца назад

Canada needs to BUILD more housing. Build build build.

@sefrzan 3 месяца назад

nope it wont make interest rates or prices go down. Just a talking point you're parroting well.

@maybehuman4 3 месяца назад

@@sefrzan Housing prices in Canada are astronomical due to lack of availability and surging demand due to increased immigration policies. Even rent is expensive, let alone home ownership. Increasing supply is the only way to alleviate the problem, not playing with numbers on a spreadsheet.

@maybehuman4 3 месяца назад

@@josephsmith594 The royal we includes local governments in charge of zoning and other red tape. Time to start zoning and building entire new sub-urban neighbourhoods, not only luxury skyrises that are quickly bought up by Chinese billionaires as an investment.

@bobwoods1302 3 месяца назад

Well then we need workers.

@bobwoods1302 3 месяца назад

@@maybehuman4 So the immigrants can afford it?

@mrvllous4 3 месяца назад

1763

@themanwnoname3454 3 месяца назад

Updates: 🗞️📰🗞️📰 “If we give up on the moral code our country believes in we’re no better than (who we are fighting).” - US Military Code “Been that way for 30 years.” - U.S. Justice Department on the lack of Human Rights in Oklahoma County Jail, 2020 “Makes me feel human again after this place.” - Oklahoma City Art Museum review after life in the local shelters (20+ years in the making), 2024 “It is said that no one truly knows a nation until one has been inside its jails. A nation should not be judged by how it treats its highest citizens, but its lowest ones.” - Nelson Mandela 🥂🥂 I got human beings I love. Lying to them was never my thing. There is no God. Thanks to an old friend I remember the first lie I ever told :) - Me aka Ron Swanson 2.0/Ron Swanson on Snoop Dogg/a nerd