Canadians are at approximately 165% debt to income ratio. It is getting harder and harder to get by with so much debt.
Stop watching the Kardashian’s or Trump and wanting to live their lives with a middle-class income. People are stretching themselves things to live like celebrities on a pauper’s wage.
Notice how the former bank CEO Patti Croft keeps painting a rosy picture of the economy. Through my years of observing the markets and mainstream finance media is that people employed in the financial service industry have to lie to the public.
She keeps things upbeat by using words like “improving” and “growth” , which are just flat out lies. Remember, bankers jobs are to keep you spending money and investing so they can make money off you in interest and fees, that’s it period.
I’ve been watching the Canadian housing market for over the last decade now, and let me tell you have things been getting really frothy. In downtown Toronto, you can now get a one bedroom 700 square foot condo unit for $280,000 to $320,000. My wife and I decide earlier last month to walk our weekends in downtown Toronto to enjoy the scenery and restaurants and during those excursions I kept a mindful eye on all the condo construction and cranes that were all over.
More people in the United Kingdom are having financial difficulties more than ever, things are really bad…people have loss their jobs and new jobs are scarce.
People in the U.K have really high debt and living expenses are high as well. They are feeling squeezed more than ever.
The U.K government earlier on imposed austerity (cut back on spending) and the economy went into recession, now the U.K government is trying to print money to help boost the economy, but this move will increase the government debt.
Real Estate is getting expensive all over the world, both in the United States and here where I am in Canada. Not many average Joe and Jane can afford a house now a days, many people are being price out and only the very wealthy are scooping up homes so they can become landlords.
If there is one thing we know about the economy, it is that it goes in cycles. From 2007 to 2009 economy/stock market took a dive and now the stock market has recovered artificially by Fed stimulus (printed money), but the real economy is still having trouble despite the propaganda of the mainstream media, telling people that things are better.
This video just uploaded last year 2012, so the content of his view and predictions would be for this year 2013. Let’s see if Rosenberg from Gluskin Sheff’s is correct, there is 6 months to go until end of year.
Here’s is a great article that details what is really going on in the American real estate market. While there is a lot of headlines that tell you, there is a recovery in the housing market happening, the truth is that this so called recovery is skewed.
Most American’s think that the country they live in has little income inequality, but they are dead wrong. They have been programmed by the propaganda American mainstream television that brainwash American’s to think that America is the land of the free and the American dream is still possible.
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