Comments on: Canadian Mortgage Debt Growth Is Finally Back To Early 2020 Levels  https://betterdwelling.com/canadian-mortgage-debt-growth-is-finally-back-to-early-2020-levels/ Canada’s Fastest Growing Real Estate News Source Mon, 22 May 2023 01:04:26 +0000 hourly 1 By: Keops https://betterdwelling.com/canadian-mortgage-debt-growth-is-finally-back-to-early-2020-levels/#comment-90599 Mon, 22 May 2023 01:04:26 +0000 https://betterdwelling.com/?p=23407#comment-90599 In reply to J.

At that point the boc will decide to either make Canadians poorer by devaluing the dollar, or make Canadians poorer by hiking interest rates and crashing real estate value. A tricky choice.

]]> By: cto https://betterdwelling.com/canadian-mortgage-debt-growth-is-finally-back-to-early-2020-levels/#comment-90595 Sun, 21 May 2023 15:21:04 +0000 https://betterdwelling.com/?p=23407#comment-90595 houses = bricks of gold!
they are the primary Canadian financial instrument.
They used to be homes for shelter but now they are gold bricks and not a soul wants to sell their lovely brick of gold.
THANKS BoC!
THANKS GOVERNMENTS OF ALL LEVELS AND THIER ELECTED REALESTATE INVESTORS.
YOU HAVE CHANGED HOUSING AND CANADA. TO SUITE YOU CONFLICT OF INTEREST.

]]> By: Dan https://betterdwelling.com/canadian-mortgage-debt-growth-is-finally-back-to-early-2020-levels/#comment-90594 Sun, 21 May 2023 11:24:29 +0000 https://betterdwelling.com/?p=23407#comment-90594 In reply to david.

bingo 🙂

]]> By: Daniel https://betterdwelling.com/canadian-mortgage-debt-growth-is-finally-back-to-early-2020-levels/#comment-90588 Sat, 20 May 2023 19:09:15 +0000 https://betterdwelling.com/?p=23407#comment-90588 I wonder the size of the inflationary effect of people who have given up on saving for a home and just spend their money in the economy. Will that contribute to rates that are higher, for longer?

I wish I was able to buy a house before this craziness. I became able to buy one, but now it’s unappealing… Why would I put hundreds of thousands into a grossly overpriced asset and then have to spend much more time and money for upkeep + cost of mortgage? I’ll just keep investing in less overpriced stocks that have much lower upkeep + more flexibility.

]]> By: david https://betterdwelling.com/canadian-mortgage-debt-growth-is-finally-back-to-early-2020-levels/#comment-90584 Sat, 20 May 2023 14:14:04 +0000 https://betterdwelling.com/?p=23407#comment-90584 Mortgage debt growth is still more than twice the GDP growth and it has been like that for the past 20 years. The current growth is not what i call sustainable.

]]> By: J https://betterdwelling.com/canadian-mortgage-debt-growth-is-finally-back-to-early-2020-levels/#comment-90576 Fri, 19 May 2023 21:56:07 +0000 https://betterdwelling.com/?p=23407#comment-90576 In reply to Ray.

2,100,000,000,000 / (13,000,000/3)= iPhone calculator ran out of Zeros.

2,100,000 / (13/3) ~=485,000 average mortgage balance.

Skew that by time and duration of amortization. The people who bought in the past five years are going to be cleaned out.

How many can hold on when JP raises rates to defend USD?

CAD devaluation = more inflation.

Recession = rate cut = HB 3.0 = more inflation.

June 1st US debt ceiling ??? = Disaster globally.

BoC caught between a bunch of loaded guns.

]]> By: Ray https://betterdwelling.com/canadian-mortgage-debt-growth-is-finally-back-to-early-2020-levels/#comment-90575 Fri, 19 May 2023 17:42:50 +0000 https://betterdwelling.com/?p=23407#comment-90575 They say only a third of Canadians have a mortgage. So this third owes $2.1 Trillion in mortgage debt 🤔 😳 😐

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