Originally Posted by ChrisTO
Polls are not fact...and they didn't give a CI of the poll either.
I don't buy it. but if it's true...just shocking given the kind of bling out there. are people really using their CC/HELOC like printing presses? clearly I'm naive.
It really depends where you look. If you go down town Toronto, it's pretty up there. Alot of young couples making good money, or at least alot of young couples, both pulling in 45K and spending alot of money.
To be fair, if a couple pulls in 90K together, they are living pretty comfortable. Their after tax income is probably around 70K. Subtract the condo $1500 a month mortgage, maintenance, utilities, and you still got 3K-4K a month left over. Not tight at all if you're smart with your money.
This is mostly what I see happening. You look at Liberty Village, and all these up and coming condo areas and these are the people that live there - either that or renter. You don't even need a car any more.
As for globalization, competing, etc, I don't say so much as a complaint. I agree that we gotta step it up. however I dont like the double standard. Where on the one hand, we give incentives for workers to come here, but on the other, you look at the countries they coming from and no incentive for us to go there.
I would go live and work in China for a couple of years if it was possible. Just to see something different. Even India. They got alot of middle class/upper class and educated people, I just dont really feel that they are really willing to share with the rest of the world as we are here. I think thats my biggest gripe.
Oh well, be interesting to see the next few years how this will all play out. we Just need to get rid of all the crazy dictators and liberalize more countries and then will have true globalization. Nothign bad with that, I dont really like omni-cultures.