Lives of house-poor Canadians - S.R. Stack & Company Ltd. Skip to content

Real estate woes: The secret lives of house-poor Canadians

Article from cbc.ca
Being house-poor is more common than many people realize but “nobody talks about it”. Kudos to Louise and John for speaking to the CBC about their situation.

Whether you call it “house-poor” or as Louise Edgerton calls it “house rich and cash poor” there are many Canadians in the same boat as Louise and her husband John who are struggling to pay for everyday life after paying for their housing expenses.

Kudos to Louise and John for speaking to the CBC about their situation. As Louise says “It’s a dirty little secret. Nobody talks about it”.

If you don’t talk about it then you are possibly missing out on advice and options for dealing with your budgeting challenges and you are also internalizing the stresses associated with trying to make ends meet.

CHECK OUT THE ARTICLE HERE

Did You Know?

1

Many people who file for bankruptcy get to stay in their home.

2

In Newfoundland and Labrador, you can keep your RRSPs – even if you file for bankruptcy.

3

Many people who file for bankruptcy are able to keep their vehicle.

4

Most bankruptcies are NOT published in the newspaper.

5

Student loans can be included in a bankruptcy if they are more than seven (7) years old.

6

A consumer proposal is an alternative to bankruptcy that can only be filed with a licensed trustee in bankruptcy.

7

In NL, people ages 30 to 39 years old file for bankruptcy more than any other age group. [source]