Comments on: Mortgages: A Head Scratcher For Consumers

By: KarenB

KarenB — Thu, 26 Jan 2012 14:25:34 +0000

My apologies, Rick you are correct… one to many zeros…
Canadian Debt expected to reach $605,000,000,000. by 2013 and approx 33, 500,000. people in Canada. So if every baby born, every senior, every unemployed person, every stay at home parent and ever wage earner, pitched in $18,333. we would be out of debt. Hmmm -Can it happen! I realize Canada is in much better shape then many other countries and for that we need to respect what has been done to manage that, but still… Who has the debt problem? Every Family with a mortgage? I also agree with Nicole. When are they going look to where the real problem is. Over 30% of the population is over extended in their consumer debt… Only 30%! over 60% of us are managing it very well! Why? The spenders keep spending more because they can! The credit limist goes up ! The consolidated credit cards are run back up… And new cards are issued.

By: Mortgages: A Head Scratcher For Consumers

Mortgages: A Head Scratcher For Consumers — Wed, 25 Jan 2012 19:39:37 +0000

[...] written by Boris Bozic on the 24 Jan 2012: Article « Previous [...]

By: Rick

Rick — Wed, 25 Jan 2012 16:44:53 +0000

Hey KarenB, You’re somewhat high in your estimate of debt per person. By a LOT!! Somewhere under $20,000 would be a closer figure. see http://www.debtclock.ca

By: Nicole

Nicole — Wed, 25 Jan 2012 16:44:39 +0000

This has some great points. I’d like to add to it a little. There is so much worry about consumers taking on to much debt yet on a weekly basis the banks are calling giving us new Credit cards and loans that we have been Pre-Approved for! When are these banks going to have restrictions placed on them? At least my mortgage has an asset attached to it and time was taken to confirm I qualified for it. We can’t expect our debt to lessen when we make consumer debt so easily attainable.

By: Angela Kroemer

Angela Kroemer — Tue, 24 Jan 2012 17:44:22 +0000

So true.

By: KarenB

KarenB — Tue, 24 Jan 2012 15:23:57 +0000

I find it so interesting that the Government is so concerned about Consumer Debt, and Mortgage debt. They have us all worried that we are in over our heads… I think that it is a diversion tactic to keep us focused off the true debt issue! Our Governments debt load. Has anyone done the numbers for that debt load at a percentage of our income???..Probably not, we would actually all have heart attacks. Every man women and child in Canada is into the Governments debt by about $200,000 per person. Where is the real debt issue??? Me thinks we are being fooled!!! Maybe if they think that if they get us to take care of our own consumer debt then they will feel safe upping taxes to take care of theirs… ??????????