Borrowing is only going to get tougher
By LINDA LEATHERDALE, MONEY EDITOR
"How many times do I have to warn -- debt is Public Enemy No. 1?"
"Well, here's another warning for overly-indebted Canadians, who keep spending more than they earn, with the ratio of debt to personal disposable income now at a staggering 122%.
Borrowing against home equity to keep creditors happy is going to get tougher, if a new forecast by Canada Mortgage and Housing Corp. is right. "
"CMHC is warning a record housing bull market has already peaked, and we're now slipping into a bearish trend. Now, let me be clear: CMHC is not predicting a crash. But we are heading into a slowdown, especially in Ontario where the automotive, forestry and manufacturing sectors have taken a hit -- and that means home price gains will slow, too. "
"In fact, in some cities, like Windsor, prices may even fall. " Full Article.