WHAT DOES THE NEW YEAR HOLD IN STORE?
According to the new governor of the Bank of Canada, Stephen Poloz, rates ‘will’ remain low and are not likely to increase.
Inflation is well below target, in fact there are renewed fears of ‘Deflation’ which is kind of scary. Deflation means prices drop, and the dollar and real estate prices lose value. It can be as devastating as runaway inflation. But we don’t think deflation is likely and low inflation is good, good, good.
What about the economy? Well, it will continue to suck and blow. In other words it will remain sluggish and inconsistent.
As far as house prices are considered, they are expected to rise 2 – 3 per cent this year. Higher in the big cities. Sales volume is also expected to be very healthy, meaning that Canadians will be active in the real estate market. Good news.
Will there be further mortgage tightening, making it more difficult to get a mortgage? This is anybody’s guess for sure. We hope not though.
What would be nice though is for fed finance head Jim Flaherty to stop being overly concerned about personal debt loads. Instead, he should be focussing more on individual net worth. Why? Because a family for example could have say $30 – $40K on credit cards yet have a net worth of a million dollars consisting of home equity, RRSP’s etc., and be high income earners, yet get labelled with having too much consumer debt. Did you know that over 50 per cent of Canadian households have greater than 50 per cent equity in their homes. Yup it’s true.
Unfortunately on the flip side, several million households have minimal home equity and net worth, and too many continue to live paycheck to paycheck, and stop helping make the banks so insanely rich.
Capitalism, consumerism and consumption are alive and well. If you find yourself in shock over post Xmas credit card debt, you are not alone.
Why not make a new year’s resolution to get your debt load under control via debt consolidation. In other words eliminate high interest debt and replace it with much lower interest debt. By doing so you will then have a greater ability to start paying down your debt.
Give us a call for a free financial analysis. Not only will we give you a free credit report but we will also give you some sage advice how to save money by eliminating debt much faster than you ever thought possible.
Call our team today. You’ll be so glad you did.
WHAT DOES THE NEW YEAR HOLD IN STORE?
According to the new governor of the Bank of Canada, Stephen Poloz, rates ‘will’ remain low and are not likely to increase.
Inflation is well below target, in fact there are renewed fears of ‘Deflation’ which is kind of scary. Deflation means prices drop, and the dollar and real estate prices lose value. It can be as devastating as runaway inflation. But we don’t think deflation is likely and low inflation is good, good, good.
What about the economy? Well, it will continue to suck and blow. In other words it will remain sluggish and inconsistent.
As far as house prices are considered, they are expected to rise 2 – 3 per cent this year. Higher in the big cities. Sales volume is also expected to be very healthy, meaning that Canadians will be active in the real estate market. Good news.
Will there be further mortgage tightening, making it more difficult to get a mortgage? This is anybody’s guess for sure. We hope not though.
What would be nice though is for fed finance head Jim Flaherty to stop being overly concerned about personal debt loads. Instead, he should be focussing more on individual net worth. Why? Because a family for example could have say $30 – $40K on credit cards yet have a net worth of a million dollars consisting of home equity, RRSP’s etc., and be high income earners, yet get labelled with having too much consumer debt. Did you know that over 50 per cent of Canadian households have greater than 50 per cent equity in their homes. Yup it’s true.
Unfortunately on the flip side, several million households have minimal home equity and net worth, and too many continue to live paycheck to paycheck, and stop helping make the banks so insanely rich.
Capitalism, consumerism and consumption are alive and well. If you find yourself in shock over post Xmas credit card debt, you are not alone.
Why not make a new year’s resolution to get your debt load under control via debt consolidation. In other words eliminate high interest debt and replace it with much lower interest debt. By doing so you will then have a greater ability to start paying down your debt.
Give us a call for a free financial analysis. Not only will we give you a free credit report but we will also give you some sage advice how to save money by eliminating debt much faster than you ever thought possible.
Call our team today. You’ll be so glad you did.
WHAT DOES THE NEW YEAR HOLD IN STORE?
According to the new governor of the Bank of Canada, Stephen Poloz, rates ‘will’ remain low and are not likely to increase.
Inflation is well below target, in fact there are renewed fears of ‘Deflation’ which is kind of scary. Deflation means prices drop, and the dollar and real estate prices lose value. It can be as devastating as runaway inflation. But we don’t think deflation is likely and low inflation is good, good, good.
What about the economy? Well, it will continue to suck and blow. In other words it will remain sluggish and inconsistent.
As far as house prices are considered, they are expected to rise 2 – 3 per cent this year. Higher in the big cities. Sales volume is also expected to be very healthy, meaning that Canadians will be active in the real estate market. Good news.
Will there be further mortgage tightening, making it more difficult to get a mortgage? This is anybody’s guess for sure. We hope not though.
What would be nice though is for fed finance head Jim Flaherty to stop being overly concerned about personal debt loads. Instead, he should be focussing more on individual net worth. Why? Because a family for example could have say $30 – $40K on credit cards yet have a net worth of a million dollars consisting of home equity, RRSP’s etc., and be high income earners, yet get labelled with having too much consumer debt. Did you know that over 50 per cent of Canadian households have greater than 50 per cent equity in their homes. Yup it’s true.
Unfortunately on the flip side, several million households have minimal home equity and net worth, and too many continue to live paycheck to paycheck, and stop helping make the banks so insanely rich.
Capitalism, consumerism and consumption are alive and well. If you find yourself in shock over post Xmas credit card debt, you are not alone.
Why not make a new year’s resolution to get your debt load under control via debt consolidation. In other words eliminate high interest debt and replace it with much lower interest debt. By doing so you will then have a greater ability to start paying down your debt.
Give us a call for a free financial analysis. Not only will we give you a free credit report but we will also give you some sage advice how to save money by eliminating debt much faster than you ever thought possible.
Call our team today. You’ll be so glad you did.
WHAT DOES THE NEW YEAR HOLD IN STORE?
According to the new governor of the Bank of Canada, Stephen Poloz, rates ‘will’ remain low and are not likely to increase.
Inflation is well below target, in fact there are renewed fears of ‘Deflation’ which is kind of scary. Deflation means prices drop, and the dollar and real estate prices lose value. It can be as devastating as runaway inflation. But we don’t think deflation is likely and low inflation is good, good, good.
What about the economy? Well, it will continue to suck and blow. In other words it will remain sluggish and inconsistent.
As far as house prices are considered, they are expected to rise 2 – 3 per cent this year. Higher in the big cities. Sales volume is also expected to be very healthy, meaning that Canadians will be active in the real estate market. Good news.
Will there be further mortgage tightening, making it more difficult to get a mortgage? This is anybody’s guess for sure. We hope not though.
What would be nice though is for fed finance head Jim Flaherty to stop being overly concerned about personal debt loads. Instead, he should be focussing more on individual net worth. Why? Because a family for example could have say $30 – $40K on credit cards yet have a net worth of a million dollars consisting of home equity, RRSP’s etc., and be high income earners, yet get labelled with having too much consumer debt. Did you know that over 50 per cent of Canadian households have greater than 50 per cent equity in their homes. Yup it’s true.
Unfortunately on the flip side, several million households have minimal home equity and net worth, and too many continue