Real Estate Minute with Steve-September 6
Tuesday, Sep 06, 2022
Happy Tuesday Morning
Quick update on the market current inventory is at 13,029 down 8% since last weeks 14,079 units with sales being consistent at the 800 mark.
Current inflation is at 7.6% down for the height of 8.1% and with the bank of Canada set to meet tomorrow regarding the overnight lending rate I predict another interest rate hike between .50 to .75 %, the only way for inflation to deflate is to make purchasing items unfordable to bring down the prices.
Something to keep watch of is large corporations removing all liquid assets out of banks around the world and placing them in safe places.
The Vatican has broadcasted on August 23rd that all liquid assets are to be withdrawn around the world and brought back to the Vatican Bank in t-30 days for a full Vatican governance.