BC Doomed?

[sumdumguy]

Christy Clark says if you aren't comfortable with debt, you aren't living in the real world. If banks are ok with trusting young people with a mortgage then Government should trust them with its money. What you think about that rationale?

[sumdumguy]

That's from Huffington Post tonight.

[15444]

I think I remember hearing something along the same lines in the US about 10 years ago. Not even a decade later and Canadians are going full blown retard with subprime. Can't wait to see the outcome.

[oneoff]

When zero interest rates are the dividing lie between a citizen being able to make payments on their debt...and the alternative of bankruptcy

then maybe its time to quit allowing them to make decisions involving reality.

These are symptoms of a society out of control and in decay that hasn't yet reached bottom. Who really thinks drugs and welfare and even more easy access to debt are any of the solutions.

Gives new meaning to being dragged down to "their" level and everyone being thoroughly pummeled by "their" experience.

[Oliver88]

Christy Clark says if you aren't comfortable with debt, you aren't living in the real world. If banks are ok with trusting young people with a mortgage then Government should trust them with its money. What you think about that rationale?

I think this rationale is crazy since the government is simply redistributing taxpayer $.
The government collects tax $ from taxpayers to lend back to certain taxpayers as a subsidy since they can't afford a 5% down payment on an overpriced house in Vancouver.

This is crazy and it is making their problem of overpriced house prices worse by helping people who can't get approved for mortgages buy houses.

Will BC need NINJA mortgages next to allow lower/middle income people buy huge houses?