Greater Toronto residents are seeking formal creditor relief on lower levels of debt, according to an analysis of filings with the OSB.
Record piles of debt? Apparently we haven’t seen anything yet, as the Bank of Canada shares data showing this trend is accelerating.
Toronto real estate prices are falling, and bankruptcies are on the rise in Canada’s most expensive cities.
Metro Vancouver residents are filing for bankruptcies at a much faster rate than last year, but overall the numbers remain fairly low.
Toronto real estate prices helped drop the number of consumer proposals being filed, but the number of bankruptcies is on the rise.
The good news? Bankruptcies dropped across Canada. The bad news? People are trying to negotiate more deals with their creditors.
Cash strapped, real estate wealthy Canadian Boomers pushed reverse mortgage numbers over 20% higher over the past year.
Canadians are borrowing against real estate at the fastest pace ever, setting a new all-time high for loans secured by property.
The Bank for International Settlements is flagging Canada with two warning signs, indicating a financial crisis is likely.
Canadian bankruptcies from homeowners are at an all-time low, but an expert argues this is due to second mortgages and HELOCs, not wealth.