In the season 9 finale episode of Debt Free in 30, Doug Hoyes and Ted Michalos discuss the current state of consumer insolvencies in Canada and why they’re going back up. They also discuss the impact of inflation remaining higher than wage increases, higher credit card debt, and higher interest rates. Where are we heading in the latter part of 2023? Has the recession begun? What can homeowners expect in this climate? Tune in for a great discussion!
Episode 435, Debt Free in 30 Year End Prediction Show https://youtu.be/3i22JpmcozY
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401
Statistics Canada, Average Weekly Earnings https://www150.statcan.gc.ca/n1/daily-quotidien/230629/dq230629a-eng.htm?HPA=1&indid=3555-1&indgeo=0
Statistics Canada. Table 36-10-0639-01 Credit liabilities of households (x 1,000,000) https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901
Mortgage Rate History from Ratehub.ca: https://www.ratehub.ca/5-year-fixed-mortgage-rate-history
Mortgage Calculator, Butler Mortgage: https://www.butlermortgage.ca/mortgage-calculator/
Bank of Canada, Monetary Aggregates (Money Supply) https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/