Ottawa's new mortgage and lending rules are being hailed as crucial to stopping Canadians from drowning in debt, but they come with a downside: slower consumer spending.
Finance Minister Jim Flaherty unveiled measures governing mortgages and home equity lines of credit on Monday, bemoaning the fact that some Canadians are using them to buy “boats and cars and big-screen TVs.”
Source: TAVIA GRANT, STEVE LADURANTAYE, RITA TRICHUR
From Tuesday's Globe and Mail
Published Monday, Jan. 17, 2011 7:44PM EST
Last updated Monday, Jan. 17, 2011 9:53PM EST
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