Economy 53,144 Posted November 24, 2017 Author Share Posted November 24, 2017 45 minutes ago, RAMROD said: Must be that. Surprised they are #1 honestly. Im not. Wealthier Nations tend to have higher consumer debt Also Switzerlands Central Bank had negative rates at one point (dont know if they still do) and that doesnt help Link to post Share on other sites More sharing options...
Economy 53,144 Posted November 24, 2017 Author Share Posted November 24, 2017 32 minutes ago, Ugly Boy said: australia is only at #3 basically because of housing and hospitals bc our government likes to raw us Housing is usually the biggest portion of debt for most places here in Canada i can attest to that... our housing problems are a pretty whatched thing on the global markets Link to post Share on other sites More sharing options...
Gagaloo911 12,959 Posted November 24, 2017 Share Posted November 24, 2017 Debt is such a joke. Just a made up thing that doesn't rlly exist and also doesn't have to. Like all that debt out there could just be forgotten cause it means nothing, but with the system we have and use of capitalism we use it as a tool to control people and countries I to making even more money on shiit Link to post Share on other sites More sharing options...
GoldenPonyboy 2,434 Posted November 24, 2017 Share Posted November 24, 2017 1 hour ago, Economy said: U mean when i get my mortgage right? Since i graduated 6 years ago ive only been saving the only year my bank account took a drop was when i bought my car which i payed in full with no financing being frugal while living with ur parents has advantages. But im moving out soon. Im 24 now i need to leave the nest lol well that makes sense, it's not hard to save money while you live at your parents. I have been living on my own since i was 19 and paid for my university degree in full without loans. I am now working three jobs (80 hours a week) just to be able to start saving some money. My last day off was in October and my next one is in January. This is the only way to live on your own without taking a loan Link to post Share on other sites More sharing options...
GoldenPonyboy 2,434 Posted November 24, 2017 Share Posted November 24, 2017 28 minutes ago, Economy said: Housing is usually the biggest portion of debt for most places here in Canada i can attest to that... our housing problems are a pretty whatched thing on the global markets The big problem in Canada is that renting is way too expensive, at least in my city, it is almost impossible to find a one bedroom appartment under 750$ and there is almost no bachelor appartment. most appartments are 2 bedrooms and go for around 850$. it's crazy Link to post Share on other sites More sharing options...
Economy 53,144 Posted November 24, 2017 Author Share Posted November 24, 2017 15 hours ago, GoldenPonyboy said: The big problem in Canada is that renting is way too expensive, at least in my city, it is almost impossible to find a one bedroom appartment under 750$ and there is almost no bachelor appartment. most appartments are 2 bedrooms and go for around 850$. it's crazy I live in Brampton a suburb 30 minutes drive from Toronto Small basements here go for $1200 a month and on ur other comment 80 hours a week?????? I work 50 and I already feel dead lmao. Then again i got fam responsibilities i gotta do with outside work too, so my weekends get stollen too much of the time Link to post Share on other sites More sharing options...
ThisTrue 28 Posted November 24, 2017 Share Posted November 24, 2017 U.S not in the top... But college debt? Link to post Share on other sites More sharing options...
Economy 53,144 Posted November 24, 2017 Author Share Posted November 24, 2017 1 hour ago, ThisTrue said: U.S not in the top... But college debt? The US went thru major deleveraging between 2008 to 2012 despite low interest rates which got accumolated debt levels down Some Countries on this list never went thru that Im my Country homes prices were rising before recession but then kept rising. Consumers also got some mad credit card debt Link to post Share on other sites More sharing options...
GoldenPonyboy 2,434 Posted November 24, 2017 Share Posted November 24, 2017 6 hours ago, Economy said: I live in Brampton a suburb 30 minutes drive from Toronto Small basements here go for $1200 a month and on ur other comment 80 hours a week?????? I work 50 and I already feel dead lmao. Then again i got fak responsibilities i gotta heko with outside work too so my weekends get stollen too much of the time I live in a small town, so rent is a bit cheaper but high paying jobs basically dont exist. I have a bachelor of criminology and i am paid 15$ an hour at one job and 13 at the other two. Amd yess i am dead all the time. I like my jobs tho so its bot too badthe hour fluctuate usually between 65 and 80, but i have seen myself work 24 hours in a row a few times so im not really counting the hours anymore Link to post Share on other sites More sharing options...
Economy 53,144 Posted November 24, 2017 Author Share Posted November 24, 2017 21 minutes ago, GoldenPonyboy said: I live in a small town, so rent is a bit cheaper but high paying jobs basically dont exist. I have a bachelor of criminology and i am paid 15$ an hour at one job and 13 at the other two. Amd yess i am dead all the time. I like my jobs tho so its bot too badthe hour fluctuate usually between 65 and 80, but i have seen myself work 24 hours in a row a few times so im not really counting the hours anymore Yikes and this is why ive stayed with my parents as long as i have Link to post Share on other sites More sharing options...
Luc 4,776 Posted December 2, 2017 Share Posted December 2, 2017 Housing prices in Western Europe are naturally higher than in the US due to higher population density, but also because the government subsidizes getting a mortgage. Meanwhile a system of loans was implemented for refugees (10000€ loan to pay language lessons, if you succeed citizenship test you don't have to pay it back. Used to be paid by the state) and student loans (students used to get a few hundred euros a month, but they cut that and implemented a system of student debt instead. If you can't pay it due to unemployment or whatever you don't have to). Meanwhile interest rates are extremely low and housing prices are rising quickly. But I think it's not as problematic as you'd expect, most people will be able to pay back their student loans and mortgages. All other consumer loans are the problem: people even pay their cars and kitchens with loans these days. Link to post Share on other sites More sharing options...
Economy 53,144 Posted December 4, 2017 Author Share Posted December 4, 2017 On 2017-12-02 at 8:45 AM, Luc said: Housing prices in Western Europe are naturally higher than in the US due to higher population density, but also because the government subsidizes getting a mortgage. Meanwhile a system of loans was implemented for refugees (10000€ loan to pay language lessons, if you succeed citizenship test you don't have to pay it back. Used to be paid by the state) and student loans (students used to get a few hundred euros a month, but they cut that and implemented a system of student debt instead. If you can't pay it due to unemployment or whatever you don't have to). Meanwhile interest rates are extremely low and housing prices are rising quickly. But I think it's not as problematic as you'd expect, most people will be able to pay back their student loans and mortgages. All other consumer loans are the problem: people even pay their cars and kitchens with loans these days. Government subsities for mortgages to me is a waste of money and accomplishes nothing if a market is competitive ppl will bid as much as they can, subsities give whoever gets them power to bid more and then the price hikes offset the good the mortgage subsities is trying to accomplish in the first place Link to post Share on other sites More sharing options...
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