What are your thoughts on interest rates and when they may start edging up again. I see the BOC has “committed” to stay the course until mid next year, but some advisors have suggested locking in mortgages sooner rather than later. We have a couple houses in Halifax (our own and a rental) on variable at below 2%….locking in would double that rate. Thoughts?

Hi Garth, what is your opinion??

…”If you are waiting for the market to bottom and it does, then you’ve already missed it.”….

Investors buy properties to make money. If the upside on RE is zero (and a probability of going down) and you cannot make 3 to 6% (or more) on your invested money then investors will not buy ….on a median home (in most large cities where most live) you cannot charge rent equal to what is costs to carry the PIT …bottom line – RE is too expensive for the median income…repeat after me – RE is too expensive…IMO.

And Dear RuralRick,
deflation is easier to control than inflation…as long as you own the world’s reserve currency…just print money…this could be a long discussion, but for now take my word on this one…to make controlling deflation a even easier job you need: 1) turn “printing money aka quantitative easing into a global phenomenon…check; 2) have captive creditors (they already own too much of your debt…)…almost check;…Now you only have to worry about the price of gold…