[chemgear]

Originally Posted by Red

Canadians debt is somewhat offset by the assets they bought with it (real estate). The 'paper' net worth is still respectable.

When/If those assets tumble it will cause an ugly scenario.

Read on redflagdeals that TD LOC interest rates are going up. Some in the tune of 4% in addition to the 6% they were already paying.
Not cheap debt anymore.

Wait what? 10% in total?