http://ca.finance.yahoo.com/blogs/insig ... 37093.html
Debt growth levels are up 5.4 per cent in last year, but that figure is lower than last year's growth rate level at 6.4 per cent, said Doug Porter, deputy chief economist at BMO Capital Markets.
Record high debt. Carney said yesterday Canadians are heeding his warnings. LOL. Doug says it is good news because it is not increasing as fast as it was. Personal debt "only" grew at 5.4% this year compared to 6.4% last year. LOL.
I also saw BC gubmint debt was downgraded to AAA negative. Deficit is growing, total debt is growing. Saw over at VCI, sales in the lower mainland for Dec. are about the worst in 10 years +. Maybe slightly better than '08. MOI over 12 now. Oh well, I'm sure things will take off in the spring.
ETB and jimtan are confident. That is if climate change doesn't wash away jimtan's building. LOL. In fact he is not just confident but arrogantly so. Hmmm. This is just a forum but your debt and mortgage are real life. Will jimtan be in serious trouble beyond just having to live with overly optimistic forecasts based on vacancy rates? We'll see.
One thing is for sure I'm glad I can view the Van RE insanity from a distance. It's looking pretty certain that many will be crushed in the next year or two.
I just had the best year of my life. Bought a couple of houses in the US at a time when prices are stabilizing after a major correction. The same chance will come for those who want it in Vancouver.
Speaking of which I noticed someone questioning why if jimtan is such a brilliant and successful analyst, why did he buy his first condo just a few years ago. Good point.
Even a dumb ass injinear like myself managed to get clear title on a good size Abby SFH about 9 years ago. What up wit dat, jimbo?