There was considerable anticipation leading up to yesterdays Federal budget unveiling. Many expected that the Fed's would resort to some invasive measures in light of the red hot real estate market. Aside from a vacant property tax aimed at foreign buyers there was not much else that could be construed as an intervention. However, the overall economy is growing at a faster pace than expected. Therefore, if the Bank of Canada thinks the current economic stimulus is not required to the degree it is in place, we could see a modest upward pitch in interest rates sooner rather than later. #recg #commercialvaluations #boc #federalbudget #realestate
- Demitry Omrin