The B.C. Assessment Authority posted 2012 assessment information today and the 1.9 million properties in British Columbia have a combined assessed value of more than $1 Trillion dollars.
Wow.
BC homeowners sure are wealthy, right?
Consider, however, the stunning debt ratio and burden Canadians are carrying.
How much of that $1 Trillion is leveraged out due to HELOC's?
How much credit card debt are we carrying?
And like Nortel stock, what happens if price plummets precariously? You 'assets' evaporate while your debt remains.
It's a good thing real estate never goes down.
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Is it possible to find out how much of that is in fact debt?
ReplyDeleteA trillion is without meaning - it is out of scale with human measure. A trillion is a measure of numbers of atoms, stellar distances etc.
ReplyDeleteUS is now a police state
ReplyDeleteCongress has now passed the National Defense Appropriations Act, with Amendment 1031, which allows for the military detention of American citizens.
Man things must be bad. Hedge your bets people and keep your papers close.