35% of Homeowners will go Bankrupt in 2024?

Two years ago, our Youtube channel covered a Daily Hive article that claimed as many as 35% of Canadian households were concerned about going bankrupt due to rising interest rates. Now that the BOC overnight rate is holding steady at 5% and reported consumer bankruptcies are still below pre-pandemic levels, could the wave of fixed rate mortgage renewals be what finally tips the scales and pushes highly leverage home owners to the brink of bankruptcy?

In today's video, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty provides his opinion and the opinion of BMO’s Chief Economist, Doug Porter regarding where the housing market is headed and just how serious the 2024 and 2025 “mortgage renewal cliff” might be for the Canadian economy.

- - -

Book time with Steve

Call or text: 604-549-5828
Email: steve@krproperties.ca

DOWNLOAD Our *FREE* Home Buyer's Guide

*** Start Your Mortgage Application Today***
CITY WIDE Mortgage Services: https://mtgapp.scarlettnetwork.com/KR_Properties/home

*** Need Home and Property Insurance? ***
Use the company I use! SQUARE ONE:
Tenants, Landlords and Home Owners Save $20 with Square One Insurance using this link: https://www.squareone.ca/karrasch?offer_code=KARRASCH

Are you a REALTOR®? Want to learn how to level up your business?
Learn how to improve your message with the #1 Real Estate Video Course or my YouTube Course for Real Estate 

*** https://videocourselogin.com/ ***
DISCOUNT CODE: Steve10

Subscribe To The Tom Storey Show Podcast with Steve and Tom:
YouTube: https://www.youtube.com/channel/UCse8VG5r3C9O9S7W6-p5sNg
Spotify: https://open.spotify.com/show/7wEEPUUhaC8g2CsIwJetbd
Apple Podcast: https://podcasts.apple.com/ca/podcast/the-tom-storey-show-with-steve-tom/id1627632474

Need VIDEO GEAR? Shop Steve's Amazon Store: https://amzn.to/45cIBbU