Coming CrunchWe are less than three months away from the start of a financial catstrophe. As per the most recent public data issued by CMHC and a few other financial institutions June 15th is where the bulk of mortgages start to come up for renewal and will last for something like 15 months. Based on this new information 43% of those people do not qualify to remortgage their property due to higher interest rates. Add to this most have lines of credit that are maxed out. There are three large credit unions and one major bank in canada that are in a whole lot of hurt because of the this. Add this to the same thing happening in Europe and the U.S. and we are heading into a time of real issues that will directly effect the stock market and all stocks. Some analysts are saying this will be the worst financial disaster of all time. I think that's a bit strong but who knows they could be right. The facts are the facts and with 43% unable to remortgage what happens? How many houses will hit the market and how long will it last? In the 1980's Alberta it took 9 years to work through all ther forclosed houses. B.C. and Ontario based on comparisions from the 1980's are 400% worse off, meaning there are 4 times the number of possible forclosures adjusted to the size of eaches populations. The only way they will escape this is to lower interest rates by 50% or more and that is not going to happen because of the existing inflation rate. Gook luck folks and I hope nobody here is in this trap.