Mortgage Defaults Have Started in Canada... Crash Ahead?

In this video, we speak about mortgage delinquencies having started in Canada... Will this lead to a housing market crash? Enjoy!
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Video Chapters:
0:00 - Intro
0:36 - Canadian Credit Card Debt
4:35 - Mortgage Delinquencies
8:58 - Will This Persist?
#mortgages #housing #canada
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[@GriffinMilks]

While mortgage defaults have risen in Ontario and BC, do you think we're headed towards more financial ruin? Comment below! 📈 🇺🇸 🇨🇦 Get up to $1,550 in FREE Cash with Moomoo (Stock Broker): j.moomoo.com/00Cwm8 📈 My FREE Stock Market Investing Course (Previously $200): skl.sh/3ODk1tN 📈 🇨🇦 Open a High-Interest Savings Account with NEO & get 4.00% Interest at all times!: bit.ly/neo-hisa -Griffin

[@abaldwin6059]

No worries, just sell your house and stop eating, then you can pay off your credit card and carbon taxes.

[@alep4578]

You forgot to say to trust the government, always and forever

[@M.Hamidi.]

Even after selling the house, you can be fined for sleeping outside. Got to hid in the forest with the bears

[@GriffinMilks]

Simple as that

[@mazedar_tv]

Sell your one eye and one kidney, bcoz carbon tax is important. We have to save environment

[@sowianskizonierz2693]

Great news for billion dollar rental companies who will buy up all the defaulted houses

[@dontbefooledbyjumla7869]

Exactly. Rich people can buy up now n get richer poor can remain poor. Interest rate hikes only impact poor not rich.

[@jwg9338]

@@dontbefooledbyjumla7869 incorrect. Low interest rates makes money cheap, forcing your retirement investment to go far out on the risk spectrum to get acceptable return. Remember, it wasn't that long ago that a 10% GIC was considered a "mediocre" ROI. The net result of cheap money are "zombie" companies who contribute zero real growth to the economy.

[@rjkrjk8344]

It won't help because people can't afford the rents. 😮

[@alexandrecontr]

Thanks for the update Griff! I feel like this was a long time coming, since housing prices were booming excessively with bidding wars, and now with high inflation and interest rates, this was bound to happen.

[@GriffinMilks]

Yea it's still uncertain if we'll see things slide further, but I'll be keeping a close eye! Thanks for watching Alex

[@MONROEJACQ]

I've mostly focused on traditional investments, but with the looming possibility of a housing market crash, I'm considering diversifying my portfolio

[@royalrenk]

Companies are already purchasing houses here in ottawa .. its not going to be a crash. The difference will be for the rental house business..

[@cuybueno]

That's what Trudeau W E F want, everybody must rent from companies, not own.

[@GriffinMilks]

Prices have stabilized and, I believe, will start creeping up again over next 12 months and further. Thanks for watching

[@cryptoholica72]

Gold is ripping, crypto is ripping, house prices are increasing, if you think theyre gonna lower rates that'll only be putting fuel on the fire.

[@GriffinMilks]

House prices are marginally increasing. But they're main focus on rates is inflation. Plus it makes things tougher on the rental market. We'll see

[@Shadowjedi007]

Funny that the housing market has picked up like krazy last 2 weeks. Multiple offers , over asking price being seen in BC markets.

[@GriffinMilks]

Yea same in the capital region!

[@jwg9338]

When Grandma and the mailman are talking about locking the "best" interest rates, you know the show is coming to an end.

[@GriffinMilks]

Like with most investments. Barber included haha

[@Shadowjedi007]

If they cut rates, peoples behavior will not change. If you can't afford your stuff then sell it.

[@hexxlaxx2992]

Where do those people live? In a tent?

[@chandrakanthreddy812]

Affordable tents

[@GriffinMilks]

Affordable tents, lol :/

[@user-bc3zs2wn5z]

I’m so glad I bought my house with cash.

[@GriffinMilks]

If you were able to, then great!

[@allanwatts8361]

we're close to a catastrophic crash...im going to come back to this comment soon enough and laugh so hard that my bowels will spill crap ...ill be comfortably sipping tea daily as the prices recede

[@Pravin_Yeshua_BTC]

Bitcoin fixes this ⚡️

[@stephenfermoyle4578]

OMG the same old stories

[@FrankQC100]

L'immobilier c'est tellement un bon investissement.

[@GriffinMilks]

Merci pour l'écoute!

[@MauriceBoulard]

c'est du sarcasme?

[@user-cy8vf7lm9i]

Hi Griffin, I am 21 looking to buy my first rental property within 1-2 years. Just wanted to say your channel has been really helpful!

[@GriffinMilks]

Hey that's awesome! Thanks for the feedback and good luck :)

[@MikeyPaper]

Fearmongering fearmongering fearmongering

[@GriffinMilks]

Thanks for watching!

[@griffinmilksenfrancais]

😢

[@GriffinMilks]

:)