The Canadian Reset is Coming…
Canadians are suffering.. we delve into the current real estate market trends, discussing the decline in homeownership rates, the affordability crisis, and the impact of interest rate hikes on homeowners and renters in Canada. Vince Gaetano explores the significant drop in homeownership rates, especially in Ontario and BC, and the rise in property listings due to increased financial pressure on homeowners. He also highlights the challenges Canadians face with rising debt and credit utilization rates, emphasizing the importance of financial planning and budgeting. The episode features insights from Daniel Foch’s market update, shedding light on changing family dynamics, housing needs, and the national housing strategy. Vince also introduces RPM Wealth Builders, a new real estate property management franchise, and offers practical advice for navigating the economic challenges ahead. Tune in to learn more about mortgage solutions, refinancing options, and the future of the housing market. Visit www.owlmortgage.ca for personalized mortgage advice and subscribe to our YouTube channel for more expert insights.
Chapters:
0:00 – Canada Market Update
12:23 – Why do Canadians love debt? Supporting life through credit cards and HELOCs?
13:33 – Some economists think we’ll see a mild recession in 2024. What are your thoughts on that?
14:33 – Inventory is going up & Homes taking longer to sell… is it possible A new trend will continue?
16:13 – If you currently hold a variable rate mortgage, what should you do?
17:26 – Have things slowed with interest rate hikes? How is your job different now than, say, one year ago?
19:55 – With affordability concerns is restructuring your mortgage the solution?
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Credit to : OwlMortgage