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Interesting article on Canadian debt .. we owe more but we are paying it off with ease .. so it appears.

posted by The Mortgage Associates    |   May 15, 2014 14:20

Canadian's spendthrift ways:  and now, the good news

Article by Rob Carrick, The Globe and Mail, May 14, 2014

"No more shrill warnings about the dangers of high household debt levels. I’m moving on.

Don’t freak – the personal finance law that debt is bad has not been repealed. Debt makes you vulnerable to a drop in income or job loss, and it may prevent you from saving enough for retirement. Reducing the amount you owe is a good thing to do, period.

But today’s high debt loads are not as dangerous as once thought. We need a more nuanced discussion on debt than just shouting at people about how bad it is.

Part of the change in thinking on debt reflects a sense that we are returning to a more normal economy after five years of confusion and disruption. Things that seemed almost apocalyptic a few years ago now seem liveable, if not desirable.

Click here to read the full article.