💼 The office of the superintendent of Bankruptcies or the OSB had 759 claims in January which was 42% more than the month prior and a staggering 129% higher than a year ago.
📊 This chart gives things some context and shows that while we’ve had worst times prior to about 20 years ago, the current trend line is nearly a vertical line and if continued, would have huge implications for our economy.
💡 Some of the reasons we’re clearly seeing this are our soaring debts, inflationary policies, and a slowing-down economy.
💭 But what do you think? Why do you think insolvencies are increasing at record-breaking rates? Do you own a business? If you do, does that resonate with you and your experience over the past 12 months?
I can share with honesty that in my industry, the average Realtors I know have made anywhere between 40% and 70% less last year than the average of their 3 prior years. Lots have second jobs.
💬 Let us know your thoughts in the comments below 👇
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