Media, Economy lacking context: “Bank of Canada Hikes Hitting Immigrants and Millennials Hard”
This “report” lacks critical context: Millennials and immigrants are bearing the brunt of the Bank of Canada’s aggressive interest-rate hikes. But baby boomers who own their homes outright aren’t likely to be feeling the pinch. A generational wealth gap is at the root of the contrasting experiences of these cohorts. Source: Interest Rates: Bank of Canada Hikes Hitting Immigrants and Millennials Hard – Bloomberg Baby boomers had it pretty bad when they were young: The “baby boomers” were hit even…