Steve Saretsky

global financial crisis, delinquency rates hit like 5% in the U.S.

So like Canada is nowhere even remotely close, but delinquency rates are rising.

What's interesting about that,

Point six percent, though, is they don't capture pretty much anything outside of the big banks.

They don't typically capture.

Right.

So that's like your private lenders, your mortgage investment corps.

And that's where you're seeing, I think, a lot of the delinquencies.

For example, in like Vancouver, Metro Vancouver area, the number of court ordered listings that are currently listed for sale on the MLS is at an all time high.

Going back to the year 2000.

So, I mean, I don't have data for the eighties, but you know, you had a 20, call it a 25 year high.

Yeah.

So if you look at on the MLS, right, you're looking for a new house.

You would say, how many of the lists, how many listings are on the MLS today that are court ordered listings or

basically a bank forcing a sale or a lender forcing a sale.

And that number today is currently at a 25-year high.

So there's a lot of distressed sales, even though when you look at the percentage terms, you're like, well, the percentage, nationally it's 0.6, so very, very low.

Again, it's coming off of record low levels and rising at a relatively quick pace.

But overall, it's low, but it doesn't capture the shadow market, really, I would say.

Yeah, in BC, it's like – so from the time that you miss a payment –