I've heard that Mark Carney wants to 'bail out developers'. It looks to me more like David Eby wants to help out people who can't afford to buy a first home---but then spin, vibes, and ideology got involved. :-(
this post was submitted on 30 Jun 2026
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I think one also has to consider the persistent low interest rates that has happened in the last 20-30 years and how this has incentivized for assets to not only skyrocket in value, but also make people think that money is 'cheap'. What's even crazier is that the banks and various private lenders were more than willing to give out large mortgages and loans to people until they realized the problem got so big and risky that they had to introduce stress tests.
The feds have a difficult job ahead of it if they try and unwind the gravy train - the economy would have to run red hot so that the interest rates can be raised slowly over time by the BoC. If the BoC's rates were somehow managed differently when it came to housing, there might be an easier way out.
I still think it's all about supply. I think people try to bob and weave, tap dance, and do cartwheels to avoid admitting the problem is cities aren't allowing enough housing to get built. The cost of borrowing wouldn't matter much if there was enough housing to go around. I think people confuse the effects of the problem with the causes of it.