Way more people are filing for bankruptcy in Toronto as cost of living soars Toronto
this week, show that while personal bankruptcies were down from normal levels amid the peak of the health crisis, they're spiking back up again.
Across Canada, 11 per cent more people filed for bankruptcy in the second quarter of 2022 than in the second quarter of 2021 — and in Ontario and certain cities specifically, the problem is worse than elsewhere in the country. When comparing the same two time periods in Ontario, personal bankruptcies are up 16.5 per cent; 15 per cent in just Toronto, and a whopping 26 per cent in Hamilton.
So many things. First of all, people across this country are literally screaming out at the cost of living. Rent is through the roof in Vancouver and Toronto, and home ownership is a pipe dream for most.And, while these are figures that are pretty on par with pre-COVID levels, they were on the rise before lockdowns and are expected to continue to jump even moreso with unprecedented inflation and interest rate increases.
People who were able to defer debt payments or haggle for lower rent from their landlords over the last few years are now not only out of those options, but are faced with even higher payments and prices for these things and all else than before, and apparently not coping well.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
City issues warning after fake Toronto Water workers attempt to enter homes, gather personal infoToronto residents are urged to be vigilant after people posing as City of Toronto water staff recently attempted to enter homes and gather personal information.
Read more »
People posing as City of Toronto workers attempting to enter homes, get personal info - Toronto | Globalnews.caIn posts on Twitter, the the City of Toronto said it has been notified that people are posing as Toronto Water staff.
Read more »
U.S. House committee has right to see Trump’s tax records, appeals court rulesThe House Ways and Means Committee wrote on Twitter: ‘We expect to receive the requested tax returns and audit files immediately’
Read more »
Patch of grass is for sale in Toronto for $1.1 millionToronto's real estate has always been rather... interesting. From strange living spaces, creepy rentals, and questionable tenant requirements, the ...
Read more »