Randy Selzer's Real Estate Podcast

Something's gotta give. The combination of sky-high real estate prices and high interest rates is unsustainable. In March of 2022 the Bank of Canada started raising interest rates in an effort to combat inflation. We can point fingers as to how we got into this situation, but it is probably a combination of ultra-low interest rates in the preceding years, coupled with the massive printing of money by governments around the world when the Covid-19 pandemic hit. The fact is, real estate prices in Canada have been on a tear since 1996. We managed to avoid the big crash that the U.S. experienced in 2008. Despite numerous efforts by the federal, provincial and various municipal governments to slow the market, prices just kept on rising. Toronto and Vancouver were the most affected, although almost every city and town across the country saw sizeable gains. People were making money through real estate. Good times. Once interest rates started going up, those high prices became a liability. For someone buying a mi