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| Let's go house shopping! |
If there is one thing I have heard too much of in the world of finances is that Canadians have an insanely high debt ratio. Very few people care about this. Mainly because they aren't in the financial industry. But I'm here to tell you every time there is a news story about the Prime Rate, Bank of Canada or Canadian Real Estate bubble there is usually a caveat about how much the average Canadian is in debt. We have heard it so much we have tuned it out, much like the phrases 'historically low interest rate' or 'continuing war in Afghanistan'. In effect, we are being trained (conspiracy theorists can submit theories in comments) to ignore that little boy who is crying Wolf. Nobody is telling us to stop spending money. In fact, it's the opposite. We need to keep spending money to keep the economy in motion. It's why it has 'never been easier' to qualify for financing that new house, car, big screen television. It's why Black Friday has become a North American institution; more important to Americans that Thanksgiving.
