435 –  Why Are Consumer Insolvencies Back Up? [Year-End Analysis + 2023 Predictions]

435 – Why Are Consumer Insolvencies Back Up? [Year-End Analysis + 2023 Predictions]

Author: Doug Hoyes December 31, 2022 Duration: 38:47

Both consumer debt and insolvencies have turned sharply upward again. What's contributing to this shift? Are record-high interest rates to blame? Inflation? Or are we just picking up where we left off pre-pandemic? Doug Hoyes and Ted Michalos are back with our year-end analysis and predictions podcast. They discuss the top statistics from 2022 that help explain what's happened with bankruptcies this year and give their predictions for what's the come in 2023. Tune in for a great discussion!

Sources & Related Links:

Top 10 Debt Statistics for 2022 & What's Ahead for Consumer Insolvencies: https://www.hoyes.com/blog/top-10-debt-statistics-for-2022-and-whats-ahead-for-consumer-insolvencies/

National Rent Report, Rentals.ca: https://rentals.ca/national-rent-report 

Teranet-National Bank House Price Index: https://housepriceindex.ca/2022/11/october2022/

Hoyes Michalos Homeowners Bankruptcy Index: https://www.hoyes.com/press/homeowner-bankruptcy-index/

Consumer Price Index Statistics Canada: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401

Hourly Wages Data Statistics Canada: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410032001

Credit Liabilities of Households: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901

Last year's show: Predictions for Consumer Debt Coming Out Of The Pandemic, Ep. 383: https://youtu.be/LCE6EkOwi8E


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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