- Forum Clout
- -12,212
Upto 3-4 years ago, newcomers to Canada didn't even have to show proof of income or past credit history to obtain a mortgage, meanwhile you can have a perfect credit report and getting one here as a citizen is damn near impossibru. That's how the Indians got all these nice homes, they pooled 4-5 guy's working security guard jobs money and place the downpayment, and buy a nice home...then they fly in their grandpa and grandma and put them on disability, and the young fellas bust their ass working security etc.I know for about the past two years credit card balances (how much people owe) is at an all time high - people seem to be just running them up and something’s gotta give soon which is gonna be scary. What’s crazy is I’ve talked to people my age (late 30s) and they didn’t think the financial crash of 2007/2008 was even a thing. Either they were living off their rich parents or just completely retarded.
We already had Biden promising to wipe out student loan debt so I’m sure in a couple years we’ll have someone running for president that will promise to cancel credit card debt because that’s going to be the next “financial crisis”
Same for auto leases...they get the 2024 Hyundai and drive Lyft/Uber...meanwhile if you're smart you never finance/lease a vehicle.