4 ms·

Your average home in Canada is not 3 million. And your average "homeowner" is really a mortgage holder who is going to be in a world of pain as soon as his low

Your average home in Canada is not 3 million. And your average "homeowner" is really a mortgage holder who is going to be in a world of pain as soon as his low interest rate mortgage is renewed. Anyway I don't get your aggression. My point was that Canadians are far worse than the article suggests: half the country should be considered poor (the renters) and the "wealthy" are one interest hike away from bankruptcy.

seec 3y ago
I don't know why or how it would get renewed but I guess some people have bad deals. Doesn't make the majority of good deals disappear though. I'm not aggressing you or anyone else here? I'm a bit unsettled by the situation that has been created overtime thought exploitation, corruption and negligence of the previous generation. If you feel attacked maybe you are compensating because you feel this message is destined for you? I honestly don't know and can't say because I know nothing about you and couldn't care less about you specifically (no offense). The point if someone concerned reads this he will understand and he will know, just like when you point at some bitten door and the dog knows... Also considering the rules in place for borrowing, it's more than doubtful that an interest hike would put anyone out of their house. Or they lied to the bank, or have an irresponsible unsustainable lifestyle compared to their means, stuff like that. We don't lend money to people who don't have revenues that can cover significantly more than typical life costs. Otherwise, there would be virtually no renters... Sure, maybe Canada is not doing good overall but that doesn't change the fact that some are pretty rich compared to rest of Canada and even more compared to the rest of the world. And this is exactly what the article say !

4 ms·

Your average home in Canada is not 3 million. And your average "homeowner" is really a mortgage holder who is going to be in a world of pain as soon as his low

by thsksbd 3y ago

seec 3y ago
I don't know why or how it would get renewed but I guess some people have bad deals. Doesn't make the majority of good deals disappear though. I'm not aggressing you or anyone else here? I'm a bit unsettled by the situation that has been created overtime thought exploitation, corruption and negligence of the previous generation. If you feel attacked maybe you are compensating because you feel this message is destined for you? I honestly don't know and can't say because I know nothing about you and couldn't care less about you specifically (no offense). The point if someone concerned reads this he will understand and he will know, just like when you point at some bitten door and the dog knows... Also considering the rules in place for borrowing, it's more than doubtful that an interest hike would put anyone out of their house. Or they lied to the bank, or have an irresponsible unsustainable lifestyle compared to their means, stuff like that. We don't lend money to people who don't have revenues that can cover significantly more than typical life costs. Otherwise, there would be virtually no renters... Sure, maybe Canada is not doing good overall but that doesn't change the fact that some are pretty rich compared to rest of Canada and even more compared to the rest of the world. And this is exactly what the article say !