The Canadian Housing Market CRASH and Debt Bubble!

The Canadian Housing Market CRASH and Debt Bubble! Me and Hilliard back in 2022 talked about the Canadian Debt Bubble. It is unbelievable looking back watching this video considering the carnage in the economy and housing market.
Hilliard's book when the bubble bursts: amzn.to/3L19wji | Follow @hmacbe on X
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#Canadian #HousingMarket #crash
0:00 - Intro
1:20 - Everything chart
13:20 - Mortgage fraud
18:40 - Variable rates
23:40 - Bank of Canada stress test
27:20 - Mortgage defaults
31:44 - Sub prime in Canada
40:30 - Common mortgage fraud
45:00 - Banks how they work
48:00 - Credit conditions change
55:50 - Mortgage lender Magenta story

[@MarketManiaPodcast]

This interview was done way back in 2022 when the channel was smaller so apologies for the audio. Follow @hmacb on X he puts out some amazing charts Get 3 months FREE from my VPN provider Express VPN: www.expressvpn.com/marketmania

[@moneymaps123]

They lured people in with the low rates, then they cranked it up. Classic rug pull.

[@mth469]

tiff macklem really did a number on the folks.

[@SpiderJerusalem-jb6jx]

6 figures. I cant even rent an apartment in Ontario.

[@mth469]

you need to rent a home in the hood.

[@Rawdiswar]

Where in ON?

[@jmb9701]

on 6 figures your doing approx 5500-6k a month after tax. If you cant rent something for that you've got debt / spending problems.

[@Aitch-102]

5:50 We saw it coming, I lived in the Thames Valley for 40 years (I was a builder for 20), and we've seen this crap before (2008), maybe not to this degree though. Saying it will hit the young the most is true, but if you think you're going to ride it out because you're older think again service costs will catch you, I hear plumbers have private jets now. 🤣 When we got our last mortgage (6 months ago) the people we sold our house to withdrew their offer at the last minute...(Vancouver fraud). The bank means tested us at a 10% base rate by the way. "Collective mental illness" - the best description of what's going on in Canada I've ever heard. If my life was linked to condos or a $800k mortgage that takes 2 people to pay I would have trouble sleeping right now. Another great interview Luke.

[@MarketManiaPodcast]

Wow thanks for sharing

[@gmarks1559]

The muppet boiler room condo flipping market is dead 😂❤

[@Rawdiswar]

That is a hell of a comment sir, 😂 👏.

[@gmarks1559]

@Rawdiswar unbelievable but true

[@Rawdiswar]

@@gmarks1559 Absolutely

[@terryevp4084]

Top drawer interview and many Thanks for this amazing content. Really appreciate it @Market Mania. Indeed. This is a "Top Gun" interview. Many thanks making this great interview available for us.

[@MarketManiaPodcast]

Thanks for watching my friend

[@CS-wj4ce]

Greatest Canadian bubble of all time. This is our 2008. It will take until end of 2026 to feel the full pain.

[@compostthewef]

Great content! Thank you! Bubbles and crimes!

[@MarketManiaPodcast]

Thanks for watching

[@gmarks1559]

Adults are about to get a lesson on what this '%' symbol means 😂

[@user-lt9pq9fr5z]

Thanks for asking his thoughts about people buying investment properties w CMHC backed mortgages and how common it may be. Van island, NONE of the landlords I know bought w 20% down. one has 5 or 6 CMHC rental properties now. All say, no landlord buys w 20% if they don't have to, if it's under a million you don't have to. nobody is checking you're living there.

[@mth469]

oh god that means the taxpayer is on the line when they start defaulting on all that. cmhc is a criminal organization putting taxpayers in the firing line guaranteeing junk mortgages for peanuts in premiums just to profit banks.

[@therose5138]

Awesome interview with Hilliard McBeth, Luke. He is saying exactly what you have warned everyone about the ever growing Real Estate bubble. 👍

[@irveywaite5105]

Great podcast had to watch it 2 times 🧐👍🏽

[@MarketManiaPodcast]

Glad you enjoyed it

[@Kowsan824]

Awesome interview, great to see this on the podcast channel Also I bought the book as well last time when he was on your channel

[@mth469]

CMHC = 100% taxpayer backed Sagen (Genworth) = 90% taxpayer backed Canada Home Guarantee = 90% taxpayer backed Banks have lobbied to keep private insurers out of the sub-prime mortgage market as the premiums those private insurers would charge would expose the enormous risk the taxpayer is being asked to shoulder. i.e. premiums on insuring these junk mortgages would be 5X higher.

[@MarketManiaPodcast]

I totally agree it has totally distorted the market

[@dr.indeanadegraff6929]

Other than the shop Amazon comment in the top of the interview I appreciate this info

[@MarketManiaPodcast]

yeh unfortunately I have no other link for his book

[@zomgoose]

Enjoy hearing from Hilliard. He sounds echoey and feint and needs a better mic.

[@YeshuaIsMyKing79823]

At least double the bogus CPI number.

[@mth469]

more like 3X. the claim is the inflation rate is 2.9%. It is more like 9% at least.

[@YeshuaIsMyKing79823]

@@mth469 For sure. The gaslighting is crazy. Like we are too stupid to notice are budgets being decimated.

[@TheRobertpainter]

Your guest sounds so wise but it’s just common sense. Unfortunately common sense has gone out the window and the brutal downside is forthcoming. The maximum ugly hasn’t even begun yet.

[@kater8730]

Stop the fear mongering, people are having enough trouble navigating their finances and do not need doom and gloom predictions. People need help and positivity. Talk about our Government and why we are in this situation in the first place!

[@BellaBella-jw9ef]

If you blatantly lie, then you can suffer the consequences. Look what’s happening in Ontario with the landlord impersonators. This country is going to crap with it’s ridiculous wokeness.