Ben Rabidoux and Doug Hoyes Make a Bet, Talk Debt, Real Estate & the Economy | DFI30

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Ben Rabidoux and Doug Hoyes Make a Bet, Talk Debt, Real Estate & the Economy | DFI30 | Ep 407. 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 shows 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

#debt #debtfreein30 #realestate #economy #podcast #recession

Are You Considered Debt Free if You Have a Mortgage, Ben Rabidoux and Doug Hoyes Make a Bet, Talk Debt, Real Estate & the Economy | DFI30.

3 Debt Services That Can Really Operate In Paying Off Debt

Protected financial obligation is backed by a hidden property. Imagine having $100,000 in credit card debt at 21% APR. It’s often recommended that the tiniest balances must be paid off initially.

Ben Rabidoux and Doug Hoyes Make a Bet, Talk Debt, Real Estate & the Economy | DFI30, Enjoy trending complete videos relevant with Are You Considered Debt Free if You Have a Mortgage.

10 Easy Ways To Get Rid Of Debt

Lots of people searching for debt consolidation have high credit card balances. Countless Americans owe money. Often you might even be surprised by the enormity of the amount you need to repay.

Countless Americans owe money. Increasingly more Americans are beginning to feel the weight of their debts come squashing down on them as we enter a financial downturn. Despite if you have a small amount of financial obligation or a large amount here are some actions to assist you leave debt the simple method.

If it is a Secured Debt, such as a house, property or car , the product worth is held as security for the financial obligation. If you die while cash is still owed, then the product can be taken by the lending institution and offered to please the financial obligation.

You would not have actually repaid any debts in genuine as you would have utilized obtained cash to repay obtained money. Nevertheless, all your confusing credit card calculations will come to an end. You will have to handle simply one lending institution, one loan account and one due date.

So your objective is to be Debt Free in 5 years. How are you going to do it? The answer: By utilizing the company concept of the 21st century. Multi level marketing.

The other percent of the credit rating is based upon just how much you actually owe on your Revolving Debt and this might be in type of credit cards; a minimum of this is the most typical one. , if you have actually utilized more than 30% of your total credit readily available on your credit card your rating will go down.. Being over the 30% limitation is a sign that you are most likely to max out your charge card.

There are numerous factors for this. Over the last few years, you can blame your monetary woes on the abrupt economic slump. Due to the fact that they were laid off from their long time jobs, a lot of consumers were left unable to pay off their financial obligations. Some customers get so deep in debt because of an unexpected disease. Another factor is extreme costs.

Discovering the very best cash rewards charge card is truly simple. Simply ensure that your FICO score has risen sufficiently, so it makes sense to request a 1% money refund, or a 5% cash refund charge card. Then look for the very best money rebate card online and use your cash management abilities that you developed while getting out of debt, to continue playing the game with the banks, this time the “get the optimum money back while not going into financial obligation” game. It is a fun and lucrative video game!

This is a long-term objective that will set you up financially for the rest of your life. Being financial obligation totally free is a dream for countless individuals. It would take you 32 YEARS (389 months) to pay off the balance.

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