The doom-and-gloomers are back, not that they ever left (Garth Turner)…

Some go radio silent, then poof, their back in the news.

ALRIGHT ALREADY, Canadians have a debt to income ratio of 160 per cent.

And YES, that means we owe $1.60 of debt for every $1 of income.

But that debt to income ratio is super miss-leading.

You have to make a distinction between credit card debt and mortgage interest debt.

Two very different animals.

One is interest on an asset that builds equity over time (good debt) and the other is high interest rate credit card debt that costs you every month (bad debt).

Separating good debt from bad debt would show a much different picture, but of course, the idea here is to garner attention.

Remember, you can’t know the future, concentrate on the things you can know, about the finances of a potential purchase, your affordability level, your own personality, then leap accordingly.

Feel comfortable calling me to discuss what may work best for you.

Mark Fidgett is a Vancouver mortgage broker and the driver behind

www.NotaPennyDown.com

Your Vancouver Mortgage Broker For Life 604-273-2002

www.notapennydown.com

P.S. Who’s the next person you know who wants to save thousands off their mortgage? Be sure to give me a call so we can help them! 604-273-2002