Post by
dart321 on Feb 02, 2023 12:39pm
WOW Huge Crash Coming
This just out and it's far,far worse than I ever thought, 35% of all fixed rate mortgage holders in Canada have 10.3 months before they will be forced to sell and 45% of all variable rate mortgage holders have 8.3 months until they will be forced to sell for a total of 53% of all mortgage holders in Canada. My god are we in trouble. How many houses is that hitting the market all at once. I have noticed listings in January where up almost 40% and sales have plunged 33%. What is the government going to do? They can't drop interest rates, if they do inflation will skyrocket. Hunker down people we are in for a very serious crash in housing. Far worse than the nineteen eighties.
Comment by
dart321 on Feb 02, 2023 1:03pm
These are depression like numbers. These number compare to the 1930's depression. Hope they do something I sure wouldn't want to see that many people living on the streets or going to the food banks and soup kitchens like the 1930's.