Alberta Continues Historic Population Growth (Copy)
Inflation's been playing peek-a-boo, dancing its way down from last year's wild heights of 8.1% to a low in June of 2.8% and nudging back up to 3.3% in July. Just when we thought prices were settling down, the price of oil is back on the rise making the situation worse. Some of the biggest contributing factors to inflation have been electricity costs skyrocketing 11.7%, groceries up 8.5%, mortgage rates up 30.5% and rents up 30% in some areas. I don’t know about you, but I need a place to live, I need to eat, and I need electricity – these are all non-negotiable items I can’t really scale back on no matter how high the Bank of Canada raises interest rates!
So will the Bank of Canada pull the rate-hike lever again? Unfortunately, I think they will in September but only time will tell. Brace yourself for more pain to come before it gets better but eventually something has to give – interest rates at current levels are simply not sustainable.
Contact Me to learn about investing opportunities that still cash flow in this historically high interest rate environment!