4% increase of Canadian consumer debt in non-mortgage debt in 2014
When our finance minister didn't like to see Canadian take on too much mortgage debt, he tighten the lending rules & kept warning home buyers watch out for rate hikes ..Now, reports said Canadian consumer debt to hit record high in 2014 on non-mortgage debt and one of the main reason is bc of the car loans. Why wouldn't he do something? IF I were him, I would introduce a new rule to limit one card per person and increase the min pmt to 50% of the total balance each month. Does it mean 23% interest on a depreciation purchase is more acceptable than 3.5% interest on our shelter?
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Tina Mak P.R.E.C (est.1992)
全美亞裔房产協会, 温哥华創会主席
President of Asian Real Estate Association of America, Vancouver Chapter
Public Speaker in US & Canada
International President's Circle Award
Coldwell Banker Canadian Ambassador Award 2011
Gold Master Medallion Award in Vancouver Real Estate Board
Co-host at AM1320 Radio Investment Show since 2007
Gold Master Medallion Award in Vancouver Real Estate Board
Co-host at AM1320 Radio Investment Show since 2007
5489 Kingsway, Burnaby
BC V5H 2G1
Tel:604-412-5860
BC V5H 2G1
Tel:604-412-5860
Email: tinamak@tinamak.com
