The housing cycle was starting to stabilize. Then the Iran War caused higher oil prices, a surge in inflation, and higher mortgage rates.  Here is a direct video link.

CMHC Mortgage Survey: Renewals Hurt, Default Fears Fall. The Bank of Mom and Dad Grows CMHC surveyed 4,112 Canadians who completed a mortgage transaction in the last 18 months and found 35% of mortgage renewers faced more financial pressure from interest rates, with that group’s payments up $375/month, yet default concern fell to 39% from 53% last year. The script argues Canada is in a renewal-heavy cycle (66% of transactions), with households adapting by cutting spending, budgeting, refinancing, consolidating debt, and leaning on family support. Here is a direct video link.