RE:RE:RE:RE:RE:RE:90,000 jobs created in December won't stop a rate cut. Very well said.
As someone born in the early 50s, we were brought up to be responsible and accountable. We were taught to minimize/avoid debt (other than for a house) and to not spend beyond our means. I doubt young peope nowa days even knwo what a rainy day fund is.
Amazing how times have changed and proper financial values have been thrown out the window.
Very sad to see.
okgonow wrote: i dont get it since when i it up to the government and the bank of Canada to save people who have not planed ahead properly???
all those who bought homes, cottages, investment property at higher prices but at low interest with the mantra: its all good we can service our debt the rates are soooo low??
was the only plan that interest rates would never go up and house prices keep rising and everything is good into perpetuity ???
now with mortages coming due its almost expected that the government,BOC does everything in their power to get thoe rates down....... no one is allowed to fail!.........i remeber the 80' when mortage rates went as high as 18% people lost their homes thats what happens if you are not prepared for worst case scenarios!!
how will people learn not to do stupid things if there is no downside??