Agree with you, adamthorat.

However, you forgot to add something.

One fine day these same immigrants after having lived in the low key basement suites decide enough is enough and go to the Bank to check how much mortgage they could afford. They start planning to buy their first home, condo, townhouse, semi, etc. Mortgage gets approved and they move out. From being renter to a gullible Bank renter (I prefer the latter one). Because, we Indians need a house, a bigger house, a 'detached 3 level with basement' house bigger and better than the one owned by their acquaintances. Otherwise, how could they be deemed as successful and 'settled in Kanedda' to their relatives back in India? Make sure they post the picture of their Bank owned home on Facebook too. Talk of town back in India for the next 2 days gets their ego fulfilled, but Bank accounts empty.

Anyway. Back to the story. Seeing this, one of their fast friends who've been living in the basement also moves out to a townhouse - the cycle continues. Everyone's happy - Banker, Canadian Govt., Mortgage lender, Realtor, Home Depot, Rona, Canadian Tire, Globe and Mail, CBC, Toronto Star. I mean literally everyone.

At the end of it all and despite of a recession, Canada marches on and on and on. All this when the jobs are still not aplenty, gas is down, manufacturing still not resurrected, and debt goes over the roof.

House market robust rehani chahiye. Baaki sab gaya tel(oil) lene BC Rhyme this in Akshay Kumar's voice now.

Je Suis less show off.

Smart money moves first, & the rest follows to the gallows. Question here is the sustainability of the gargantum amount of household debt, with no intention to repay. Lower interest means add more debt. This culture is not a good one.
One disaster (or even minor setback) & the family enters depression, high blood pressure & whole bunch of medical complications. Is this the dream of every immigrant, or do we deserve more healthy lifestyle, with less financial worries

I know few don't like it .... old prices are going up again

Oil is a double edged sword. People donot like it too low (even those who fully depend on it).
So let it rise.
People like Oil at $60. Above 70 they will feel paranoid and below 50 they will feel paranoid.
Let it be in the 60 range.

Murali

-----------------------------------------------------------------
I am a Gents and not a Ladies.

Grocery prices have already gone up.
They aren't possibly coming down even after oil / CAD rebound to its previous state.
Sucker me..

-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

Quote:

---

Originally posted by JRF


Grocery prices have already gone up.
They aren't possibly coming down even after oil / CAD rebound to its previous state.
Sucker me..

---

and Canadians now canot take advantage of the border and shop from USA since the exchange rate now makes the price even.
I guess Canadian retailers are taking revenge for 4 to 5 years of lost revenue.

I clearly remember going to Buffallo when the rate was CDN $ 1 = US $ 1.09 and taking full advantage. I even went to Wendy's there which was offering 5 items for US $ 5 and had all the 5 items. The same would have cost me CDN $ 9 to 11 in Canada at that time.

Blessings to all Cd's who went to USA during those times and got Cars, computers, laptops, I phone's, LED TV's etc..

Murali

-----------------------------------------------------------------
I am a Gents and not a Ladies.