Canadians Sinking Deeper in Illusionary Prosperity

Canadians sinking deeper in debt
"My parents' generation grew up in the Depression, so they were forced to learn how to save," Lennox said. "But people who ... are my age, in their 40s, have never known anything like that. It has always been prosperity."

...

About one-third of non-retired Canadians count on home equity as a source of retirement income, even though home equity per owner was 5 per cent lower in 2005 than in 1997, said Rock Lefebvre, vice-president of research and standards. "They are using their mortgages as lines of credit to purchase other things," Lefebvre said, noting we've become a society of undisciplined spenders.

One wonders where they picked up that nasty little habit?

*whistles* *avoids direct eye contact* *looks down at shoes* *nervously fidgets*