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Real Estate Bubble
The real estate bubble has been described as one of the biggest threats to the Canadian economy. The Toronto housing market has been identified as the second largest housing bubble in the world. The thing about bubbles is that sooner or later they all either collapse under their own weight or they burst.
Your house is not an ATM
Your house is not an ATM but if you treat it as if it is you run the risk of losing it altogether. You can’t simply keep pulling money out and expect that it will replenish itself.
Impulse Spending
Impulses and habits are very similar, they both work on us subconsciously and compel, or ilicit, certain types of behaviour. Impulsiveness isn’t always bad – sometimes it’s very rewarding, maybe that’s a part of the problem.
Trust the Media?
When you take a closer look at the data you will find that recent reports are exagerting the rise in consumer insolvenicies. In reality, insolvency filings are lagging significantly behind lending trends.
Bankruptcy Stereotypes
Stereotypes help us negotiate the world around us, stereotypes aren’t as abitrary as our acceptance of them – when they are positive we embrace them, when they are negative we appall them.