28% of Canadians say rate hike would cause bankruptcy

From southseacompany: this survey claims that more than a quarter of Canadians think that another rate increase would push them into bankruptcy.

The poll comes just days before an anticipated interest rate hike by the Bank of Canada and was conducted on behalf of MNP, a leading Canadian bankruptcy firm, between June 15 and June 19. The same poll found that 42% of Canadians say that if interest rates rise much more their financial well-being will be put in jeopardy.

The Bank of Canada has raised interest rates three times since last summer, and investors expect the central bank will boost its target for the overnight rate to 1.5% this Wednesday (July 11).

Read the full article here.

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bullwhip29
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bullwhip29

For Richmond residents who are experiencing financial hardship, the city is now stepping in with Richmond Community Associations and Societies to further subsidize recreation passes
http://www.richmond-news.com/community/richmond-expands-recreation-fee-subsidies-1.23366646

bullwhip29
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bullwhip29

Illegal online sale of Chinese cigarettes widespread in B.C., says expert
https://www.cbc.ca/news/canada/british-columbia/bc-cigarettes-resale-china-1.4745113

Best place on meth
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Best place on meth

Mainlanders have absolutely overwhelmed us with their criminal activity.

Government and law enforcement are helpless and have no idea what to do about it.

Shut It Down Already (original)
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Shut It Down Already (original)

You’re a joke.

Laibach
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Laibach

Right, locals draw prices to insanity in Vancouver…

“You need one of two things: either Vancouver real estate prices need to halve to attain a certain level of affordability, or you need to double incomes,” Yan said.

Doubling incomes is wildly ambitious — similar in scale to a 10-year goal that China has set for itself.

http://www.bloomberg.com/amp/news/articles/2018-07-13/vancouver-continent-s-least-affordable-city-has-a-wage-problem

bullwhip29
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bullwhip29
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but of course it’s not foreign buyers with their ill-gotten money or laundered azian drug money, or tax evasion by ‘students’ or ‘housewives’ no no no, it’s just locals with huge mortgages …

Shut It Down Already (original)
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Shut It Down Already (original)

Well, what’s the average new mortgage to income ratio in Vancouver versus Columbus?