Quote:
Originally Posted by Mr.Coffee
Years of 2% interest rates meant that owning your home made less sense than borrowing money and investing it, or using extra money to invest rather than pay down mortgages. There have been countless posts on this very website and it was definitely conventional wisdom. So to now point at people, 1 year into escalated interest rates, and finger wave (not saying you’re doing this) at people who have large mortgage balances feels a bit off to me. Feels a bit hindsighty. I think we are going to see debt loads start to get paid down dramatically over the next 3 years by many Canadians.
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Not actually pointing fingers, just saying that if 50% of the population who are not living paycheck to paycheck, it could be because they have no mortgage.