How big can debt loads get?

It seems like every few months there’s more news about Canadians taking on record levels of debt – a recent story linked to by southseacompany is on this topic:

Evidence Canadians are on a debt-fueled spending spree.

Canada may have spent the first half of the year stuck in an oil-driven recession, but you’d never know it looking at Canadians’ spending habits.

Consumer spending was 6.68 per cent higher in the third quarter of this year compared to a year earlier, payment solutions provider Moneris reported in its latest quarterly report.

British Columbia and Ontario led the way in spending growth, with B.C. up 10.2 per cent and Ontario up 9 per cent.

Even in recession-ravaged Alberta, which lost 2.6 per cent of all its jobs in the past year, consumer spending is up by 0.3 per cent compared to last year.

Any one else getting bored with the repetition? Is it really different here and can Canada pull off this trick indefinately?

Here’s the full article.

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Corrupt in Canada
Guest
Corrupt in Canada

@148
1. Why the hell would you want to buy property in China.
2. Aren’t we all wishing that was true in Canada.
3. What the hell does that have to do with anything, life isn’t fair get over it.

Shut It Down Already
Guest
Shut It Down Already

140, back to stats class for you! Try again.

Whistler or bust?
Guest
Whistler or bust?

I may rent in Vancouver but I own several thousands of units in the US. There is more than one way to make money in real estate

http://www.milestonereit.com

Shut It Down Already
Guest
Shut It Down Already

9K party! At this rate we’ll be at -15000 by May!

southseacompany
Member
southseacompany

“Premarket: U.S. dollar jumps as markets fix on rate expectations”, Globe & Mail

http://www.theglobeandmail.com/globe-investor/inside-the-market/market-updates/premarket-us-dollar-jumps-as-markets-fix-on-rate-expectations/article27114076/

“The dollar surged to a three-month high and European and Asian stock markets dipped on Thursday as expectations hardened of the first rise in U.S. interest rates in almost a decade coming next month.”

southseacompany
Member
southseacompany

“Bond-Market Inflation Gauge Rises to Six-Week High Before Yellen”, Bloomberg

http://www.bloomberg.com/news/articles/2015-11-04/bond-market-inflation-outlook-at-six-week-high-before-yellen

“The inflation outlook in the Treasuries market climbed to the highest level in six weeks, driving speculation the increase, combined with improving wage growth, will help encourage the Federal Reserve to raise interest rates.”

southseacompany
Member
southseacompany

“Low interest rates could allow ‘unsustainable’ house price growth”, The Telegraph, UK

http://www.telegraph.co.uk/finance/bank-of-england/11978397/Low-interest-rates-could-allow-unsustainable-house-price-growth.html

“Delaying interest rate rises for too long could allow house prices to grow at an unsustainable pace, Savills has warned. Lucian Cook, director of residential research at the real estate company, said that “if rates remain too low for too long house prices could rise to a level that would become unsustainable if rates were subsequently to rise sharply”.”

right-or-wrong
Guest
right-or-wrong

VOTE
http://vancouver.24hrs.ca/

Poll
Do you care if a high percentage of Vancouver homes are now being bought by people from Mainland China?
Monday, November 2, 2015

83% 218 votes Yes

16% 43 votes No

1% 3 votes Not sure

« View all polls

GreenSalad
Guest
GreenSalad

Baghdad Bob, meet Christy Clark

Baghdad Bob, you’ve got nothing to teach British Columbia Premier Christy Clark. When it comes to the art of denial, she’s a pro.

After years of skyrocketing house prices — largely driven by a flood of illicit Chinese cash, according to all available evidence — Clark and her ministers continue to deny what has been obvious to basically everyone else for at least a decade.

http://edmontonjournal.com/opinion/columnists/gary-lamphier-baghdad-bob-meet-christy-clark

paulb
Member

New
165
Sold
241

TI:9960

http://www.paulboenisch.com

Madashell
Guest
Madashell

@147
Any homes. China does not allow us to buy theirs.

Corrupt in Canada
Guest
Corrupt in Canada

@138

Quality reporting from a quality paper.

Wouldn’t any Vancouverite be concerned about any group of people buying a “high percentage of Vancouver homes”?

Loving it!
Guest
Loving it!

Loonie never going up!

Gas Prices going up!

Road Tolls on the way!

MSP Premiums going up!

Immigration going up to lower wages!

BC Hydro going up!

ICBC rates going up!

Pensions may become insolvent if rates stay low !

Private Manadarin schools to get public funding ? Yes. Public schools for the poor.

UBC 40% international students in future? Yes!

————————–
Bring it on!

trackback

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Madashell
Guest
Madashell

Krusty is presently touring China. I hope they will give her a tour of the inside of a chinese prison, not the 5 stars prison for the elites but the one for everyday criminals.

Best place on meth
Member
Best place on meth

How about a petition to have Krusty charged with high treason against the people of BC?

If convicted she would spend life in a Chinese prison.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

former vancouver police jim chu telling it like it is to the new comers.

https://youtu.be/Oi3axsgVBS8?t=23s

Madashell
Guest
Madashell

@138 vangal
At the moment 77% care that houses are purchased by mainlanders. Take that Kristy.

Madashell
Guest
Madashell

@138 vangarl
At the moment 77% care that houses are purchased by mainlanders. Take that Kristy.

HAMster
Guest
HAMster

Apparently some Chinese radio station (Fairchild?)is trying to deflect the issue of Mainland Chinese and immigrants in general driving up Vancouver real estate prices by saying we need investment and it’s just “supply and demand” that’s driving prices but that it’s ok because we need these “educated” people.

http://www.news1130.com/2015/11/05/vancouver-real-estate-racism/

vangrl
Member
vangrl

“Do you care if a high percentage of Vancouver homes are now being bought by people from Mainland China? Vote at..”

Go Vote, they’re tweeting results.

http://vancouver.24hrs.ca/

space889
Guest
space889

@crikey – and now msot of those outraged people are back to their regular programming of the latest Kim K fashion, American Idol, The Bachelor, and off course upcoming 007 and Star Wars movie. Real estate? yeah, it’s all those Chinese people fault but hey, at least I got in early and I have so much equity! I’m smart!

calling them sheeple would be insulting to sheeps.

space889
Guest
space889

@BCKrustyLiberals – Yes cuz they got a big majority in the last election where there is only really 2 parties – so no voting splitting here like in the federal election. Seems like a good majority of BC people disagree with you and either agree with gov’t or simply don’t care.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

i can openly talk about this because no one wants to think they’re wrong in their opinion so they’ll think this is all crazy talk.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

don’t believe me? ask yourself, have you ever converted anyone on this blog or have they become more entrenched in their opinion because of you?