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Mortgage Broker News | 17 Feb 2011, 09:23 AM Agree 0
Average Canadian family debt has hit $100,000 and about 17,400 households were behind in their mortgage payments in fall 2010, an increase of nearly 50 per cent since the recession began, according to the Vanier Institute of the Family.
  • Zoltan M. Padar | 19 Feb 2011, 01:21 AM Agree 0
    The media plays a big role of people mindset just about everything. How to dish it out is very important as well. If I want to wake up to bad news I will subscribe to the Calgary Sun, almost every page has a report about murder and or bad news. I hate to see your magazine posting an article like this. How you dish it man, how to dish it. If it is like this I do not want you send me any more issue. We know the recession has brought misery, just don’t rub it in like this.
  • Elfie Hayes | 19 Feb 2011, 02:09 AM Agree 0
    Correct me if I'm wrong but recession means downturn in productivity, loss of jobs, greater family stress and often illness and divorce due to stress. Could that be having an impact of Canadians?

    While I know that we are seeing some folks having difficulty with their finances, this article makes it sound like we're all going to hell in a hand basket.

    If as you report, there is a 50% increase in households behind in their payments then we had approx 11,000 behind before the recession. And since that represents less than 1/2 of one percent of all Canadians, (the lowest defaults in the world) Today we have less than 3/4 of one percent in default.

    I'm still going to get up in the morning! I'll go to work and I'll do the things I do to help those select few when they need a financial solutions.

    The recession is over, the stock markets are up, our real estate market is stable, the Canadian dollar is at par with the US dollar, there is less unemployment and it's almost Spring! Can we talk about some of the good news please!
  • Elfie Hayes | 19 Feb 2011, 02:09 AM Agree 0
    Correct me if I'm wrong but recession means downturn in productivity, loss of jobs, greater family stress and often illness and divorce due to stress. Could that be having an impact of Canadians?

    While I know that we are seeing some folks having difficulty with their finances, this article makes it sound like we're all going to hell in a hand basket.

    If as you report, there is a 50% increase in households behind in their payments then we had approx 11,000 behind before the recession. And since that represents less than 1/2 of one percent of all Canadians, (the lowest defaults in the world) Today we have less than 3/4 of one percent in default.

    I'm still going to get up in the morning! I'll go to work and I'll do the things I do to help those select few when they need a financial solutions.

    The recession is over, the stock markets are up, our real estate market is stable, the Canadian dollar is at par with the US dollar, there is less unemployment and it's almost Spring! Can we talk about some of the good news please!
  • Elfie Hayes | 19 Feb 2011, 02:10 AM Agree 0
    Correct me if I'm wrong but recession means downturn in productivity, loss of jobs, greater family stress and often illness and divorce due to stress. Could that be having an impact of Canadians?

    While I know that we are seeing some folks having difficulty with their finances, this article makes it sound like we're all going to hell in a hand basket.

    If as you report, there is a 50% increase in households behind in their payments then we had approx 11,000 behind before the recession. And since that represents less than 1/2 of one percent of all Canadians, (the lowest defaults in the world) Today we have less than 3/4 of one percent in default.

    I'm still going to get up in the morning! I'll go to work and I'll do the things I do to help those select few when they need a financial solutions.

    The recession is over, the stock markets are up, our real estate market is stable, the Canadian dollar is at par with the US dollar, there is less unemployment and it's almost Spring! Can we talk about some of the good news please!
  • Elfie Hayes | 19 Feb 2011, 02:16 AM Agree 0
    I apologize for this duplication of the comment.
  • Zoltan M Padar | 19 Feb 2011, 02:52 AM Agree 0
    Let's get good news on for once. Elfie, you have just made my day. I thought I am the only one thirsty for good new. This media became the carrier of bad news. Is that really what is the attention or the editor is a sour puss. You can package even bad news into like kind of informational and not fear mongering… and screw the Americans, let’s pay attention how we can make a better future for ourselves and serve our clients better while we make a decent living, I want to hear more about this. Also better to spread more educational articles, helping brokers and associates to further their profession. Do not misunderstand me, to be informed is very important, depend on though what it is presented. You do not have to have directional headlines, you are not selling this publication on a street corner. I love you guys, just get more positive oriented.
  • JMcQueen | 19 Feb 2011, 07:56 AM Agree 0
    Yes we are all going to hell in a hand basket and we have the Canadian gov't and the Real Estate 'profession' to thank for it!

    Thanks and see you in hell!
  • Facepalm | 19 Feb 2011, 12:24 PM Agree 0
    First - Recession and Default - I'll correct since no one else will.

    A recession is defined as a minimum 2 consecutive quarters of negative GDP.

    Second, the fact you and a few others are here crying about reality and asking for "good news" stories makes me not want to waste any more time.

    Here's some other terms you might want to look up in the near future:

    1) Negative equity
    2) Insolvency
    3) Bankruptcy

    Good luck when your financial day of reckoning comes. You're going to need it!
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