07/16/2026
The next inflation shock isn’t coming from your grocery bill — it’s coming from the Strait of Hormuz.
One third of the world’s fertilizer trade passes through it. Since the conflict started, that route is blocked. Urea prices have doubled in two months.
It hit right in the middle of planting season. Farmers worldwide can’t afford their inputs. Food inflation risk is rising again — echoes of 2022. Canada isn’t immune.
Here’s the double hit: according to the Bank for International Settlements, inflation-adjusted Canadian home prices have fallen nearly 30% since peaking in 2022 — back to roughly 2016 levels. Meanwhile, rates are set to rise again because of the inflation coming this winter. Your equity shrinks while your debt gets more expensive — at the same time.
Meanwhile in Greece: 37.98M visitors in 2025 (record year), Athens still at €2,400-2,900/sqm, capital gains tax-exempt through 2026 — a market going up, not correcting.
Central banks can’t cut rates fast enough to fix this. Bank of Canada is already warning of consecutive rate increases. If you’re waiting for cheap money to fix affordability — you might be waiting until 2029.
This is why hard assets matter right now.
DM « GREECE » for the breakdown