I'm guessing foreclosing on one's mortgage only happens as the very last resort, and certainly not whilst unemployment remains low . Hence agree that it is a slow moving ship, but one that is no doubt exhibiting signs of slowing, retail sales particularly.
Thank you for sharing this with us. I am not sure who else you read on Substack, have you seen this?
https://open.substack.com/pub/vitaliy/p/what-happens-in-china-may-not-stay?r=hhvbc&utm_medium=ios&utm_campaign=post
Thanks for the link, I'll take a read.
I'm guessing foreclosing on one's mortgage only happens as the very last resort, and certainly not whilst unemployment remains low . Hence agree that it is a slow moving ship, but one that is no doubt exhibiting signs of slowing, retail sales particularly.
Indeed, its going to be interesting to see how swiftly things unfold.
The impact of the latest rate hike may be key, as the second round of hikes dented confidence and spending significantly in Canada.