It's not just that house prices are rising, you're getting poorer.

We don't have unchecked inflation. 7% is high but not unchecked.

The BoC's official target is ~ 2%. It is unchecked indeed. The purchasing power of Canadians is evaporating.

this 7% arguably has to do more with a demand shift than an excess of money

Partly, but incorrect. The BoC's posture is allowing artifically low rates, engendering cheap debt, largely causing inflation. In principle this should be temporary, but .. well you explain it yourself:

prolonged periods of low interest rates have created a massive problem for Canada. Such high levels of debt + continued speculation in housing + rising student debts + HELOCs make it difficult to raise interest rates without fucking everyone over.

An out of control, dangerous, vicious circle, indeed.

However, Canadians have proven to be stupid and constantly ignored ever-more strident warnings from the BoC that rates will be rising.

People with less education are not (necessarily) stupid. Chill a bit. We definitely should talk more of economics in our public education systems, though.

Nonobstant the gold standard suggestion, which you demonstrated is not stable, do they not have a point in that a nearly stable purchasing power is likely better?

Nope. Check out the price of gold from 1990 to 2020 and tell me it's "nearly stable".

Having a bit of difficulty reading, are we?

BTW did the above post's OP do something to you?

Yes. The last thing we need [...].

So they didn't do anything to deserve the way you spoke to them?

/r/canadahousing Thread Parent