No financial crisis? Debt is no problem.
The government should continue to crack down on lenders making sure they have the capital to survive a downturn and that they are assessming borrowers appropriately. And yes, they should tax those investment properties higher if they are standing empty - if you can afford an empty house, you can afford more taxes because our culture - sustained by the government - stops squatters from laying claim to it.
Some day I'll really have to look at the background data so I can have an informed opinion. I'm sure people around here have a high debt load but we've been hit with the oil price fall out so we're well aware of the perils of over-inflated house prices. Two years ago when we started looking at places to retire, we could have had $200K added to our retirement fund. Now we'd break almost even on the same place and in a year we'll be priced out unless the US implodes its oil production.
http://www.cbc.ca/amp/1.4179540
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