Not terrible but still not good – Note negative investment in Residential Housing in 2011. On the positive side, the CDN$ should appreciate against the US$ by almost 25% by 2011 which is great news for anyone earning US$.
And speaking of Housing – Oh dear, its very bad
Others disagree – it really is terrible
Personal Bankruptcies are off the scale
Which is slightly skewed as the rules changed last year prompting a rush. Now bankruptcies can be handled by a ‘proposal’ which basically means you will pay some of the outstanding rather than getting a clean slate. Bankruptcies statistics should fall this year as ‘proposals’ aren’t captured but the problem still remains and is very serious.
Think that we don’t have a SubPrime Mortgage issue like the Americans? Think Again.
While the outlook remains bleak and likely to continue in this vein for some time, there are industries that have weathered the recession:
Survival, and hopefully prospering for the next 2 – 4 years means aligning with these industries.