I came across an interesting article in the Globe and Mail. It was titled Cheer up: Canada's in good shape.

The item brought back memories of the 80's and early 90's and even though it didn't get into specifics when it came to the official posted Jobless Rate in Canada, I recall hearing numbers back then like 10.5% and even up to 13% and those were "Seasonally Adjusted", presuming they would be lower or higher if the time period stated was different. The article stood out because it was one of the few positive things I've read in the last while, when comes to the economy. Really all the writer did was compare todays facts to yesterdays facts.

So, keep in mind that along with those jobless numbers, in the early and mid 80's, interest rates were high enough to give you a nose bleed. In the 90's mortgage rates were a bargan at 11.25%, (and I recall the exhuberance when they fell below 10%) . . . that's almost 3 times what you can get mortgage money for today.

I guess my question is, how bad is it today? I still see lots of cars on the road with people going here and there with the same purposeful look in their eyes. It kind of makes me scratch my head at the doom and gloom reports coming from almost everywhere. Panic causing reports. My advice . . . don't panic. Make well thought out decisions, especially when it comes to your shelter requirements. Consult with your Realtor and Mortgage Advisor. Is it a good time to buy? Well, when it comes to price, it certainly is a better time to buy than it was a year ago. The only other thing that has changed is the interest rate, it has lowered making it even more affordable to get into that home of your own.

Len Visser