In this episode, Neil analyzes the financial challenges Canadians are facing in 2024 driven by restrictive government policies. Neil presents the numbers on rising consumer debt, increased mortgage pressures, and skyrocketing credit card delinquencies from Q2 2023 to Q2 2024, revealing a significant 4.2% surge in debt levels, with credit cards being the leading contributor.
Rising debt levels from Q2 2023 to Q2 2024
Impact of government policies on mortgages and credit cards
Understanding delinquency rates and their effect on Canadians
Predictions for Q3 2024 and beyondEquifax Article: https://www.consumer.equifax.ca/about-equifax/press-releases/-/intlpress/economic-pressures-could-impact-credit-performance-of-consumers-especially-young-adults/
Neil D'Souza: linktr.ee/realestate4horsemen
Linkedin: linkedin.com/in/neilmortgages
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