Bank of Canada Just Said House Prices Need to Drop: Canadians are screwed

The Flow: Real Estate and Money Show · Mar 24, 2026 · 12m

The Bank of Canada held rates at 2.25% while deputy governor Carolyn Rogers made headlines by openly stating house prices need to correct for affordability, a major shift from the central bank's usual rhetoric. The problem is the bank is completely trapped, as cutting rates risks inflation while hiking rates would tank an already bleeding economy that lost 84,000 jobs in February. Canada's housing market is splitting in two, with Toronto and BC down significantly while Quebec and Calgary are still climbing. For homeowners, buyers, and renewers, the window to act is now before conditions get…