Canada Will Soon Encounter MASS FORECLOSURES Even if Prices Keep Rising!
Canadians are in the most amount of debt they have ever been. This has all been thanks to rising interest rates. This is courtesy of easy monetary policies. This circular madness cannot continue forever. There can always be foreigners or central bankers who will buy up anything. But the majority of people will still be hit hard in the pocketbook and the day of reckoning is upon us.
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In This Episode:
Canadians are in the most amount of debt they have ever been. This has all been thanks to rising interest rates. This is courtesy of easy monetary policies. This circular madness cannot continue forever. There can always be foreigners or central bankers who will buy up anything. But the majority of people will still be hit hard in the pocketbook and the day of reckoning is upon us.
canada central bank interest rates home housing real estate house bank of canada
Canadian housing prices post June record - The Globe and Mail
https://www.theglobeandmail.com/real-estate/canada-house-price-data-centre/article29697029/
'We used to be savers': Why Canadians ignore warnings about debt - Business - CBC News
http://www.cbc.ca/news/business/ignoring-debt-warnings-1.4179540
Canadians owe more than $1.7T, up 7% in past year, Equifax says - Business - CBC News
http://www.cbc.ca/news/business/equifax-credit-debt-1.4175029
Shared compartment service appears in office buildings in Shanghai[1]- Chinadaily.com.cn
http://usa.chinadaily.com.cn/china/2017-07/15/content_30122207.htm
Concerns raised over prosecutors’ power to seize phone, Internet records - The Boston Globe
https://www.bostonglobe.com/metro/2017/07/16/concerns-raised-over-prosecutors-power-seize-phone-internet-records/JKdVWqjFNUSMkaboOoAhZK/story.html
In your opinion, are these prices manageable?
Have you had 20% price drops in real estate from 2 weeks ago in canada? Zillow estimates have dropped prices 20% in just over a week. What is that about? It means that anyone who bought a house in the last 3 to 4 years is now suddenly underwater on the equity in their house!
20% down in 4 years is not as bad as paying rent. Plus, saying prices will drop more is just a prediction. Prices could also turn around and go up 50% in the next 3 years just as easily.
Hi David, I am a fellow Canadian and moved out of the gta to London Ontario. I've been following your work for sometime and think that you are spot on with current issues, and I appreciate your views and information. I'm usually one of the first 100 viewers of a video and I'm happy to say that you are my first comment now on steemit ( I just joined minutes ago) Canadians are loaded with debt and a lot of people I talk to who own homes are mortgage poor with practically empty houses. It's a growing issue and I feel is leaving people spread way too thin, it's only a matter of time before they break. keep up the good work!