this post was submitted on 30 Nov 2023
44 points (97.8% liked)

Canada

7210 readers
472 users here now

What's going on Canada?



Communities


🍁 Meta


🗺️ Provinces / Territories


🏙️ Cities / Local Communities


🏒 SportsHockey

Football (NFL)

  • List of All Teams: unknown

Football (CFL)

  • List of All Teams: unknown

Baseball

Basketball

Soccer


💻 Universities


💵 Finance / Shopping


🗣️ Politics


🍁 Social and Culture


Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:

https://lemmy.ca


founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] ultratiem@lemmy.ca 12 points 11 months ago (1 children)

And so it begins. If mortgage rates don't drop within the next year or two before too many people's renewals come up, it's going to be a bloodbath.

I'm pretty sure that's what most banks are waiting for and have learnt to better exploit the housing sector thanks to the collapse back in ~2008 (where they suffered zero repercussions). And where they picked up billions in foreclosed homes thanks to the crash, all for pennies on the dollar.

I mean think about it, it's these guys that artificially make the economy. Absolutely fucking wild the system is so broken and corrupt and everyone is just throwing up their hands like well that's life hur dur.

[–] LostWon@lemmy.ca 5 points 11 months ago (1 children)

Questioning the system means questioning the most sacred of cows. Until people are ready for that kind of discussion, it's always going to be band-aid fixes.

[–] ultratiem@lemmy.ca 2 points 11 months ago

What fixes tho? The banks are running wild and everyone is like “ya it’s needed to control inflation.”

You’re taking money from all the consumers to try and force business to control their prices? How does no one else think this entire system is absolutely insane?