CAD Dollar stronger then ever in 30 years

[Wojtek]

Many are losing their homes because they are unable to make their house payments due to crappy adjustable rate mortgages.

Moral of the story: Pick a fixed rate mortgage, and don't gamble when you know your economy is not at it's greatest times.

 

[AMC]

the great sub-prime housing collapse - Thank god not TOO many british banks underwrote their borrowing .

 

[Adam]

Moral of the story: Pick a fixed rate mortgage, and don't gamble when you know your economy is not at it's greatest times.

The economy was doing really up until the past year. Problem is companies baited people in with low introductory rates ranging from 3% to 5% in the last 5 or 6 years. At that time we were in the middle of big housing boom. The major mortgage companies took advantage of that fact and were not being picky about who they gave a loan to. Was just a time bomb waiting to go off. Ultimately it screwed more than just people buying houses. People are losing their jobs and spending less money because of it. Even people with the income and good credit are being turned down for new home loans.

 

[themoose]

I like the pound design a lot - US is terrible but its been that way for a long time now , and i dont sse it changing.

[straying offtopic] Methinks EUR will be the next international standard - especially if the US $ keeps this up. :ninja:

Somehow I don't think the'll be using the Euro in any other continent than Europe.