Home Foreclosures Now Looming

[Hidden In Him]

In Canada, a new survey suggests 18% of homeowners already can't afford their homes | Real estate in Canada

If that's true (and there is not much reason to doubt), with 14 million homes in Canada, that means 3 million are now entering into the danger of foreclosure, and as the guest states below that number is likely even higher at this point for a variety of reasons.

This is a subset of the thread on returning to a 19th century standard of living, but I thought it deserved its own since it is something I'm watching.
Returning To A 19th Century Standard Of Living Soon?

 

[Hidden In Him]

In the US large foreclosure numbers have not taken hold yet, but all signs now suggest they will. The beginning of it should start showing up by the late Summer/ early Fall.

 

[Randy Kluth]

In the US large foreclosure numbers have not taken hold yet, but all signs now suggest they will. The beginning of it should start showing up by the late Summer/ early Fall.

Yes, some are saying the recession is coming sooner rather than later, perhaps this year. Others are saying next year. Foreclosures will be an opportunity for investors, or for those who put off buying a house until then. Others, who lose their jobs may lose their houses too.

It's time to put our house in order, to ensure we have a stable budget and place to live. Less debt, and less dependence on others. Lots of prayer and self-discipline.

My wife and I have been down this road before. The Lord is faithful to those who keep good faith with Him.