Homeowner Insolvencies Surge

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Canadian homeowner insolvencies are rising sharply, and while total insolvencies are now on track for the worst nominal year since 2009, the bigger issue may be that more of the pain is now hitting homeowners directly. Adjusted for population, the numbers look closer to 2016 levels — but unlike 2016, Canadians today are dealing with much higher rates, weaker affordability and far less ability to use rising home prices to refinance away their debts.

#canadianeconomy #bankofcanada #canadianrealestate

Links:

Consumer insolvencies in Canada continue to climb:

https://globalnews.ca/video/12017380/consumer-insolvencies-in-canada-continue-to-climb

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