Jun 18, 2022
We are still in unprecedented times. House prices are going down even though inventory is limited. The unemployment rate is at a 40-year low, and yet insolvencies remain at record lows. What’s going on? Will this climate last forever? Enter Ben Rabidoux. Ben returns to the podcast with Doug Hoyes to share his unique insights and research on where housing is heading, whether he sees mortgage rates coming back down, his thoughts on the employment rate and recession, and the show ends with the first-ever Debt Free in 30 wager
Links:
Ben Rabidoux on Twitter https://twitter.com/BenRabidoux
Edge Realty Analytics: https://edgeanalytics.ca/
Bank of Canada: Mortgage Rates: Bank of Canada: https://www.bankofcanada.ca/2022/06/financial-system-review-2022/#box1
Ontario Consumer Insolvency Statistics: https://www.hoyes.com/press/consumer-insolvency-statistics/
Statistics Canada, Household Savings Rate: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610011201
Episode #379, Will Housing Ever Be Affordable with Ben Rabidoux: https://www.youtube.com/watch?v=exHteyKX5Tg
Bank of Canada, 5 Year Bond Yield: https://www.bankofcanada.ca/?p=39890
Monthly mortgage payment on a typical home: https://twitter.com/BenRabidoux/status/1528768057178476544
Rising Interest Rates: What Can You Do? https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/
Average Toronto house prices: https://wowa.ca/toronto-housing-market
Butler Mortgage (mortgage rates): https://www.butlermortgage.ca/mortgage-calculator/
Canada Historical Mortgage Rates: https://www.ratehub.ca/5-year-fixed-mortgage-rate-history
Landlord Rescue Property Management https://landlordrescue.ca/
Statistics Canada. Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028701
Statistics Canada. Table 36-10-0112-01 Current and capital accounts - Households, Canada, quarterly https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610011201
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
Time Stamps:
00:57 Will housing ever be affordable?
04:25 Have mortgage pre-approvals impacted prices?
10:01 Will mortgage rates come down in the next few months?
11:25 Doug thinks we are in a recession already; Ben disagrees
11:50 The unemployment rate is at 40 year lows
14:55 Is the household savings rate going to tank?
16:40 Are credit card balances increasing?
22:30 Will insolvencies go up soon?
28:02 Ben and Doug make a wager