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BREAKING NEWS - We Are In A Recession - CIBC Benjamin Tal Says

In a recent interview, CIBC’s Deputy Chief Economist Benjamin Tal made a bold statement that has sent shockwaves through the Canadian economy - “Canada is in a recession.” This announcement comes as a surprise to many, as the country has been experiencing a period of economic growth in recent years. But what does this mean for the average Canadian? And what steps can we take to protect ourselves during this uncertain time?

Tal clarified that this is not a traditional recession, but rather a “per-capita recession,” meaning that the overall economy is still growing, but the growth is not keeping up with the population growth. This means that on an individual level, Canadians are feeling the effects of a recession. This is evident in the rising cost of living, stagnant wages, and increasing household debt.

But how is this impacting Canadians on a daily basis? According to Justin Chausse, founder of the Chausse Mortgage Group, the effects of this recession can already be seen in the housing market. As the cost of living continues to rise, many Canadians are struggling to afford a home, leading to a decline in housing sales and prices. This, in turn, can have a ripple effect on the overall economy.

So what can we do to protect ourselves during this time? Chausse advises that it’s important to be proactive and take practical steps to secure our financial stability. This includes paying down debt, creating a budget, and looking for ways to increase income. It’s also crucial to have a solid financial plan and to regularly review and adjust it as needed. Chausse also recommends seeking professional financial advice to help navigate through these uncertain times.

With the year 2025 being predicted as a critical point for the Canadian economy, it’s important to act now to protect ourselves and our financial future. Whether you’re a homeowner, a business owner, or an individual, it’s essential to be informed and take proactive measures to secure your financial stability.

If you’re feeling overwhelmed or unsure about your financial situation, Justin Chausse is here to help. As a trusted mortgage broker and financial advisor, he has the expertise and knowledge to guide you through these challenging times. So don’t hesitate - book a call with Justin today to discuss your financial goals and create a plan to protect your financial future.

Don’t wait until it’s too late - take action now to secure your financial stability. Book a call with Justin Chausse today at https://chaussemortgages.ca/appointment/ and take the first step towards financial security.