Statistics Canada released the inflation rate for January 2023, the rate has come down to 5.9% from the earlier 6.3% reported in December 2022. Where in the right direction, Tiff Macklem governor general of Canada stated that he will hold the current policy rate at its current 4.5% for the time being.

What were currently witnessing in the market is an uproar in home purchasing with properties setup as bidding wars, this new and early optimism in the market is more then likely caused by buyers betting that were at the bottom of the market based on emigration and the policy rate being held.

I wont tread off my initial thoughts of the market losing an additional 20% this year, the reason why is Debt!

No one or no government policy has corrected debt.

Debt will need to be rectified either by lower rates this year and I stress this year or debt holder eliminating the amount by selling or paying it off.

The market is basically hanging on by threads until debt is corrected

What’s your thoughts ?