Quote:
Originally Posted by username
I refuse to believe that the average Canadian is 40K in debt without taking a mortgage into consideration. It's almost not even possible in my eyes.
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That number is rather mind boggling for sure, but I doubt they are making it up. It's like the whole "50% of marriages fail" thingy (besides the thought if they don't fail but are crappy anyhow, so that number should actually look worse.)
Or have you seen the crackshacks people have been buying in Vancouver for million dollars? Or why on earth would you buy a new house given the metrics and fundamentals at this stage?
You/I wouldn't do it . . . but there are more than enough people that would! I'm afraid I probably don't have a high opinion of the general population - if you then toss free money at them, I'm guessing the results are fairly predictable.