Let’s delve into the crucial aspects of finance, real estate, and economic trends. From the pros and cons of choosing a mortgage broker or a bank (and shedding light on private mortgages as short-term solutions), the severity of the ongoing recession and a whole lot more.
Tune in, share your thoughts, and don’t forget to hit that subscribe button to stay updated with the latest episodes!
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#Mortgage #CanadianEconomy#MarketNews#MortgageBroker #RealEstate #HousingMarket #CanadianFinance #InterestRates #RealEstateInvesting #HousingBubble #EconomicNews…(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
The Ugly Canadian Recession: A Closer Look at the Economic Downturn
In recent years, Canada has experienced a significant economic downturn, commonly referred to as the “ugly Canadian recession.” This downturn has had a significant impact on the country’s economy, with job losses, business closures, and a decrease in consumer spending. As a result, many Canadians have found themselves struggling to make ends meet, and the future of the country’s economic stability remains uncertain.
One of the key factors contributing to the Canadian recession is the decline in global oil prices. As a major exporter of oil, Canada has been heavily impacted by the decrease in demand and subsequent drop in prices. This has led to job losses in the oil and gas sector, as well as a general slowdown in economic activity in provinces heavily reliant on the energy industry, such as Alberta and Saskatchewan.
Additionally, the housing market has played a significant role in the economic downturn. Over the past few years, Canada has experienced a housing bubble that has led to skyrocketing prices in major cities like Toronto and Vancouver. The overheated housing market has made it difficult for many Canadians to afford homes, and the subsequent correction in prices has led to a decrease in consumer spending and investment in the real estate sector.
The COVID-19 pandemic has also played a major role in exacerbating the economic downturn in Canada. The implementation of lockdown measures and restrictions on businesses to prevent the spread of the virus led to a sharp decline in economic activity and a surge in unemployment. Though the Canadian response to the pandemic has been commendable, the economic impact has been severe, with many businesses struggling to survive and an uncertain road to recovery.
The Canadian government has implemented various measures to combat the economic downturn, including stimulus packages, low-interest rates, and support for businesses and individuals. However, the road to economic recovery is still uncertain, and many Canadians are feeling the impact of the recession on their personal finances and job security.
As the country continues to grapple with the ugly Canadian recession, it is clear that a comprehensive and coordinated effort is needed to address the underlying issues that have contributed to the economic downturn. This includes investing in infrastructure projects, diversifying the economy, and providing support for industries and workers most affected by the recession.
The ugly Canadian recession has highlighted the need for long-term economic planning and policies that prioritize stability and sustainability. As Canada looks to rebuild and recover from the economic downturn, it is crucial that all levels of government, businesses, and communities work together to address the challenges and lay the foundation for a more resilient and prosperous future. Only through collaboration and forward-thinking strategies can Canada emerge from the recession and work towards a stronger and more stable economy for all Canadians.
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
Yes private mortgage @ 10% great advice! Plus 20-30K fees! You must think we are all idiots! Oh a recession, news to all but a year late! The bullshit you are spewing is making me vomit! Maybe you should follow Market Mania for your info.
What he said about mortgage brokers has not been my experience. I have dealt almost exclusively with mortgage brokers by choice. They have never charged me a dime. When it's time to renew my mortgage. I get a hold of my mortgage broker and she comes to me with options. Some of those options are bank loans. The idea that mortgage brokers do not deal with banks is wrong. Thanks to my mortgage broker, i've got two and a half more years at 1.79. I have never had any problem with my mortgager. My current mortgager I quite like. I can access my mortgage online and get any documents I need at any point. I can also access any details as per principal payment limits et cetera.
Be careful peoplekind what is happening is by design , do lots of research on every subject the government has is eyes on . Trudy,s agenda 2030 is real .
Yet when Harper had TWO recessions it is OK. That was WITHOUT A WORLD PANDEMIC Supply chain broke and Greed by the big companies on a new level
Feels more like a depression … than a common cyclic recession. Cost of living stresses are matching the anticipatory fear similiar to the 1930's.
Private second mortgages are now in the high teens plus fees.
mild in America only.
Smith maneuver looking good right now. Need more info about this.
Great content! I’m looking to buy a house next year, I have been at my job a few years and not getting what market is offering for my skills. Would you recommend switching jobs for higher income or stay at my job for mortgage approval?
Excellent as always! Love the t-shirts
my mortgage renews next spring thinking about paying it off with my HELOC. what do you think? good idea?