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Wealth Professional | 14 Mar 2016, 08:40 AM Agree 0
Households becoming increasingly vulnerable
  • Ian Leverington | 14 Mar 2016, 11:21 AM Agree 0
    The key to fighting this issue is helping people who are increasing their long term net worth and slowing down the borrowing of everything else. Debt is debt but, at least real estate has the ability to retain value for the long term slowly increasing a person's net worth.

    Credit cards and car loans are two of the most corrosive types of debt, in my opinion and they're being handed out like candy allowing people to easily overspend on depreciable, luxuries and consumer goods. Funny thin is, it's very possible for someone to purchase a vehicle with the same monthly payment as house and it's much easier for someone to qualify for a loan to purchase a luxury vehicle than it is a modest home. Obviously I'm not saying we should do away credit cards or auto loans. I'm just asking, what kind of debt do you think is better for Canadians to have?
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