Moore in the Morning Hour 2 Amanda Lang discusses Ontario's record setting mortgage delinquencies, Canada's unemployment rate, and tariffs. Economist Mike Moffatt from the Missing Middle Initiative discusses a report which argues that Provinces ‘hold the key’ to unlocking homebuilding. Free for All Round 1.
May 30, 2025
Ontario is facing record-high mortgage delinquencies as financial stress mounts, revealing a shift in priorities among homeowners. Rising unemployment and tariff challenges add to the economic tension, urging provinces to take action on housing reform. The alarming rise in youth violence is explored, with social media and mental health issues identified as major contributors. Controversy surrounds increased salaries for MPPs, sparking debates about political accountability amidst economic struggles.
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Rising Mortgage Delinquencies
- Mortgage delinquencies in Canada rose 71.5% year over year, from a low base but still concerning.
- Increasing missed payments indicate people are financially stressed and vulnerable to economic downturns.
Canada's Economic Outlook
- OECD forecasts unemployment rising to 7% but no deep recession for Canada.
- Negative or flat growth quarters may feel recessionary but overall outlook is mildly optimistic.
Trump Tariff Legal Battle
- US courts are divided on Trump's tariff authority, causing temporary pauses and resumptions.
- Tariffs are seen mainly as negotiation tools, with Congress potentially limiting presidential power.