Episode 64: Why Canadian Mortgages Almost Never Default (But Everything Else Is Cracking)

Canadian mortgage delinquency is just 0.23%… but credit cards, HELOCs, Canada Post, Bell, and even developers are cracking under the pressure. In this episode of The Canadian Mortgage Show, Alex Pang and Alex Shanks break down what’s REALLY going on behind the “stable” mortgage numbers.

We cover:

CMHC data: Housing starts down 17% and why the promise of 500,000 new homes was never realistic.

Delinquencies: Why Canadian mortgage and HELOC delinquencies are tiny compared to the U.S., but credit cards and lines of credit are quietly surging.

Banks vs Brokers: Big 6 banks are suddenly SUPER competitive on renewals – and how brokers can still use that to your advantage.

Affordability crisis: Mortgage payments now exceed 50% of after-tax income in every Ontario urban centre – and hit 112% in Vancouver and 110% in Toronto.

Purpose-built rentals vs presales: Why developers are converting unsold presale condos into rentals and what that means for renters, investors, and first-time buyers.

Oligopolies & productivity: How telecom, food, and banking oligopolies trap Canada in a “low productivity” loop – and why that matters for rates and housing.

Developers under stress: Project cancellations, conversions to rentals, and big names like Westbank showing cracks.

Job losses: Canada Post effectively insolvent and cutting 30,000 jobs, Bell laying off 700 more – and how that feeds into recession risk and rate cuts.

Immigration & brain drain: Highly skilled immigrants are starting to leave Canada for better pay and opportunity elsewhere.

Wild true crime closer: A former Canadian Olympic snowboarder turned alleged cartel-linked drug kingpin now on the FBI’s Top 10 list.

If you’re a homeowner, first-time buyer, investor, or just trying to survive this economy, this episode will help you see the bigger picture and make smarter moves with your mortgage, your debt, and your future in Canada.

📩 Need mortgage advice or renewal help?
Reach out to Alex & Alex through the links in the description / show notes.

👍 Like, subscribe, and share this episode with someone stressing about housing or debt in Canada.

Podcast Social Links:
Website: https://canadianmortgageshow.com/
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Alex Pang 
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Alex Shanks 
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