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Mortgage Broker News | 22 Oct 2010, 12:00 AM Agree 0
I grow weary of reading reports and surveys suggesting that consumer debt in Canada is a problem. Is it a problem or not? How do telephone surveys, which seem to occur daily, add to a situation that should be looked at from a numbers perspective?
  • Lachman Balani | 14 Nov 2010, 09:47 AM Agree 0
    Well written article. Personally I don't think 150% of disposable income is a worrisome %age as most of that is in mortgages which tend to go down overtime. As you pointed out when one is young one has more debt load and as one grows older one has less as mortgage debts are lower.
  • Lachman Balani | 14 Nov 2010, 09:55 AM Agree 0
    A bank's outstanding loans means what? For a bank its deposits from clients are liabilities cos it is money it owes to the depositors, whereas the money it has lent out in mortgages, lines of credit are assets as that money is due to them.
  • Elfie Hayes | 19 Feb 2011, 03:01 AM Agree 0
    I refuse to believe that we were the envy of the world for our banking system and real estate and mortgage market stability throughout the recession and now that it's over we're going to see our lives implode.

    Thank you for putting things into perspective! It's so easy to throw negative spins on everything. It's what makes the news! I'm with you. I think we're going to be just fine.

    On any given day, some folks will manage their finances and some won't. That doesn't mean the end is near, it's just the way it is. Smart consumers will see that using credit as income isn't good and they'll come out ahead. The folks who want instant gratification will continue to over-use credit and they will suffer. Nothing new here!
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