Quote:
Originally Posted by Johnny199r
I get what you are saying. I just think it's nuts when you compare the average price of a home 10, 20, 30 years ago, relative to average wages to today, it's just exploded lately with no end in sight as people can't get enough when it comes to borrowing for mortgages. I just think that it's unfortunate as many people don't leave any breathing room in case there are money problems at any times.
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Are there any examples of this happening in Canada? I was pretty sure that mortgage brokers factored in other living costs before doling out mortgages. I can't imagine anybody living paycheque to paycheque would be given a mortgage.