MASS Bankruptcy In The 2023 Canadian Housing Market with Randy West

**Close your real estate purchase or sale in Ontario with www.Doormat.ca ** https://doormat.ca/ - - When it comes to filing for bankruptcy in Canada, is the housing market hurting Canadians? Or is it the one thing helping bail them out from over spending and failed businesses? In this week’s episode of The Tom Storey Show, Steve Karrasch and Tom Storey sit down with Insolvency Trustee Randy West of R. West & Associates in Surrey BC to discuss what he is seeing in the market and how home values sink and save people trying to file for bankruptcy. Connect with Randy: Web: https://rwest.ca/ - - Subscribe on YouTube:    / @thetomstoreyshow   🎥 Learn how to improve your message with the #1 Real Estate Video Course or my YouTube Course for Real Estate ** https://videocourselogin.com/ ** 💵 DISCOUNT CODE: TomShow 💵 AUDIO PODCAST LINKS: Spotify: https://open.spotify.com/show/7wEEPUU... Apple Podcast: https://podcasts.apple.com/.../the-to... Amazon: https://music.amazon.ca/.../the-tom-s... Anchor: https://anchor.fm/s/9879d360/podcast/rss TOM STOREY Book a call with Tom: https://calendly.com/TomStorey Tom's YouTube Channel:    / tomstorey   The Storey Team, Royal LePage Signature: https://storeyteam.ca/ Instagram:   / thestoreyteam   FaceBook:   / thestoreyteam   STEVE KARRASCH Book a call with Steve: https://calendly.com/stevekarrasch Steve's YouTube Channel:    / karraschrealproperties   Karrasch Real Properties, Macdonald Realty: https://www.krproperties.ca/ Instagram:   / karrasch_real_properties   FaceBook:   / karraschrealproperties   Video Gear: Microphone: https://amzn.to/3mim9u5 Interview Microphones: https://amzn.to/3nzryhx Studio Lights: https://amzn.to/3r8uLoY Ring Light: https://amzn.to/3ACAIPg Mobile Light: https://amzn.to/337evN9 Wall Mount Boom: https://amzn.to/3fjtaHq Teleprompter: https://amzn.to/3tg1iwg Teleprompter Screen: https://amzn.to/3qef54m Power Supply: https://amzn.to/3qYpe4o USBC Hub: https://amzn.to/3r2ACw1 The opinions expressed herein are solely that of Steve Karrasch PREC and Tom Storey, not Macdonald Realty, Royal LePage Signature, TREB or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Nor should any of this content be considered or used as financial advice. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement. #Bankrupt #CanadaRealEstate #housingmarket 00:00 🚨 Financial Awareness and Procrastination 00:32 🎙️ Introduction 01:00 🏦 Role of a Licensed Insolvency Trustee 02:11 📉 Financial Difficulties and Insolvency Trends 04:19 🚀 Property Value Increase and Financial Struggles 06:37 📈 Real Estate Market Dynamics 09:10 🏠 Mortgage Strategies and Interest Rate Trends 12:24 💸 Rising Costs and Property Taxes 14:18 🤔 Future Concerns for the Real Estate Market 18:25 🏠 Reflecting on Real Estate Decisions 18:53 📝 Real Estate Legal Services Promotion 20:30 🔄 Challenges with Pre-Built Property Transactions 26:56 📈 Impact of Interest Rates on Financial Situations 30:19 💳 Managing Debt through Proposals 33:15 📞 Negotiating with the CRA 36:47 📊 Managing Expectations and Proposal Validity 38:36 🆘 Initial Steps for Financially Stressed Individuals 42:25 🏡 Real Estate and Financial Stability 44:30 🔄 Common Causes of Financial Distress 48:55 🏦 Understanding Variable Mortgage Rates 51:12 💬 Openness and Referrals in Financial Distress 53:46 💳 Payment Structure for Financial Services 55:08 📉 Understanding Debt Proposals 56:09 💼 Impact of Income Increase on Proposals 58:28 🏦 Early Engagement with Financial Professionals 01:00:16 📈 Future Housing Market Concerns 01:04:17 🔄 Ten-Year Outlook for BC Housing 01:07:02 🏘️ Rental Market Struggles 01:12:29 📊 Strata Management and Costs 01:13:11 🔄 Transitioning Toward Retirement