Gordon Lightfoot Forums - View Single Post

charlene · 02-22-2011, 05:46 PM

Our banks are not allowed to do the things the banks in the U.S. do/did. The government doesn't allow it as it would be the govenment that would have to bail them out and that's not what the government is for.
House prices have risen in some areas, sales might be a bit slower but interest rates are static but expected to rise. Mortgage terms have been changed by the Finance Minister as well. Canadian home owners can't get into the deep trouble so many Americans find themselves in.
Sadly it's not just corporate greed.. The mindset of 'i want it, i'll buy it' has taken over with so many people be they the poor, middle or rich class of folk... Cheap credit is not cheap in the long run if bills don't get paid but folks put off today what they will never pay tomorrow. and then they're in quite a pickle. The consumerism is rampant everywhere but not as bad here.

02-22-2011, 05:46 PM	#26
charlene Moderator Join Date: May 2000 Posts: 16,001	Re: Canadian Health Care Our banks are not allowed to do the things the banks in the U.S. do/did. The government doesn't allow it as it would be the govenment that would have to bail them out and that's not what the government is for. House prices have risen in some areas, sales might be a bit slower but interest rates are static but expected to rise. Mortgage terms have been changed by the Finance Minister as well. Canadian home owners can't get into the deep trouble so many Americans find themselves in. Sadly it's not just corporate greed.. The mindset of 'i want it, i'll buy it' has taken over with so many people be they the poor, middle or rich class of folk... Cheap credit is not cheap in the long run if bills don't get paid but folks put off today what they will never pay tomorrow. and then they're in quite a pickle. The consumerism is rampant everywhere but not as bad here.