Canadian Accountant Explains: The Canadian Housing Bubble (WE NEED HELP!)

The Canadian housing market is experiencing the most difficult time ever as home prices are at record high prices. Rental prices have increased, interest rates having sharply increased, and the Canadian government is dragging its feet slowly as many people are suffering.

Many Canadians can no longer afford to live and are going into severe debt. I will go through how Canada got here (all of the contributing factors that lead to the current state of our economy), the current state of the Canadian economy, and measures/actions people can take now to alleviate the financial hardship.

I am a Canadian corporate accountant and my heart goes out to everyone who is experiencing financial hardship at this time.

Links for help:
CMHC guide:
https://www.cmhc-schl.gc.ca/consumers/home-buying/buying-guides/home-buying/homebuying-step-by-step-your-guide-to-buying-a-home-in-canada
Government of Canada - Managing your money when interest rates rise:
https://www.canada.ca/en/financial-consumer-agency/services/interest-rates-rise.html

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#housemarket #housingcrisis #canadahousing #canadianeconomy

DISCLAIMER: I am not a Financial Advisor, and please see a professional as I create my videos for entertainment purposes only. Please use your own discretion with your finances and your investments. Use your knowledge and intelligence to seek out the best advice for YOU.