![Eek Suprised :eek:](./images/smilies/eek.gif)
http://www.usdebtclock.org/index.html
One look at the amount of personal debt in Canada (household/credit-card/line-of-credit) should be a real wakeup call for everyone up here. I get shivers because we're sprinting down the very same path that swallowed America. The only thing different is that the Gov't of Canada (that's you and me) is back-stopping a massive chunk of this debt through CMHC-insured mortgages, not the over-the-counter ABCP that vaporized U.S. banks and global investors.steve-o wrote:money in = < money out. not good. freekin yanks ruined a good porion of my financial state, I have no tolerance for them at all. GREEDY GREEDY GREEDY! IT is NOT your right to own a home, its a privileage - save your money, then buy something with it not the other way around.
If you owe more than the property are you really a deadbeat for walking away? The American Mortgage Brokers Association did a strategic default at the same time they were telling the public it was morally wrong. http://en.wikipedia.org/wiki/Mortgage_B ... ssociationAlso, as a proud Canadian, the insinuation that we a mass of deadbeat's running around is insulting.