Hamster in a wheel

There we have it, Canadians have a higher debt load that ever: http://www.thestar.com/business/article/738733–canadians-deeper-in-debt-than-ever-before

We’re trying to buy a house, and while we can afford it, we feel that prices are too high.  The problem is that we look at the price of the house, but the rest of you morons are only looking at the monthly payments based on the current interest rates.  The current rates are artificially low, and are part of the economic stimulus intended to get us out of this “crisis”.  All of you morons buying houses that you can’t afford are driving up prices beyond all rational measure.

When interest rates rise,  and it’s time to renew your mortgage, what are you going to do?  If other morons are also selling their houses, prices will fall, so you might as well sell now, while prices are still high, and downgrade while prices are high.  Remember: downgrade while prices are high; upgrade while prices are low.

We need to buy a house now, we can’t wait for all you morons to come to your senses, so we’re stuck paying moron prices… will that make morons of us too?

Anyway, what would be best for us is a good old stampeding panic right now, when you all dump your house in fire sales.  So instead of calmly and rationally downgrading your house now, won’t you consider immediate panic as alternative course of action?

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