fried1765
Well-known member
Equipment
Kubota L48 TLB, Ford 1920 FEL, Ford 8N, SCAG Liberty Z, Gravely Pro.
Like a fool, I have been sitting on a significant hunk of CAD cash for 5 years, since the sale of my Nova Scotia Summer home.No.
Our few banks have a government guaranteed monopoly here and since the 1990's they don't pay depositors any money and they don't want your business because you have nowhere else to go.
Housing prices are inflated because people started speculating in real estate as interest rates were low and it was the only way to get a return on your money.
Even at $30/hr it's hard to get a $1M mortgage. Heck they can't afford to pay rent anymore.
If the government had any sense they would force banks to pay depositors at least prime rate less a percent. Instead they are trying to encourage more investment in construction so more properties can sit empty while speculators live the dream of getting rich running short term airb&b rentals.
All the while hoping for some recovery of the CAD against the USD.
THAT has not happened, and I have finally decided it is time to get off the pot.
The dumbest $$$ thing I have ever done was to buy real property in Canada.