Category: Debt

Good Debt vs. Bad Debt – The Key Differences between the Two Types of Debt

Posted July 15, 2014 by CCC Staff in ,

Ball and Chain of Debt

Not all debt is bad. Sometimes carrying debt makes sense. With home prices hitting the stratosphere in many cities, it would take the average homeowner years to save up enough to pay for their home in cash. In fact, Millennials are struggling just to save the minimum five per cent down payment. Home prices have ballooned to 10 times the median income, over double the ratio in the 1980’s. In this case, taking on a mortgage makes sense.

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Nearly Half of Canadians Don’t Consider Their Mortgage Debt: Manulife Survey

Posted July 11, 2014 by CCC Staff in ,

Getting Keys After Signing Mortgage

For most households their mortgage will be the largest debt of their lifetime. With home prices skyrocketing, households are taking on more debt to buy their dream home. The low interest rate environment seems to have given a false sense of security to many, especially young adults.

A lot of Millennials don’t consider their mortgage debt, according to a recent survey by Manulife. In fact, today’s adults are a lot more comfortable with debt than their parents were.

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The Great East-West Divide: Debt Up in in the West, Slowing in the East

Posted June 19, 2014 by cccadmin in , ,
Gastown Vancouver

Gastown, Vancouver, British Columbia – Photo by Kenny Louie CC by 2.0

While there may be an east-west divide in Canada’s housing market, there’s now evidence there may also be a similar divide when it comes to consumer debt. With no sign of interest rates creeping up anytime soon, consumers are continuing to pile on debt, albeit some faster than others. While demand for debt is up in Western Canada, demand for debt is slowing in Eastern Canada. Let’s break down the latest numbers and see how they affect the average family.

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