July 6, 2011

Dear Kids,
 
    There are so many default the payment for the house mortgage and the credit payment nowadays in USA and I don't know in Canada because this is the worst recession in the US economy history.  As a result, there are so many people losing their houses in the past few years.  After comparing the housing market with the other countries, our properties are dropping like crazy  due to the recession which causing by the sub-prime mortgage.  The reason to give out the sub-prime mortgage is to help the unqualified people to buy a house so that everyone can enjoy the ownership of the housing market.   
    If you watch the WWW.SINA.com , people in HK would like to copy the same thing what we had in USA.  The housing market is booming in Canada going up every day as far as we know because there are a lot of rich oversea immigrants coming to Canada by bring in a lot of money to purchase the properties in Canada.  However, the result for this to bring the house price to sky high and the inflation rate is uncontrollable because Canadian Government only waiting for the outside money to make the local businesses booming.  However, people coming from oversea will be very carefully to observe the businesses in Canada are not as easy as what they thought and ending they will move back to their own countries to continue their businesses so that the oversea immigrants can only create the burden of the country because they will leave their kids and wives to enjoy the free medical benefit and the free education in Canada.  The families in Canada are relaying on the oversea money pumping into Canada for them to enjoy.  There are so many disasters of the broken families due to the long term separation.  All the things in Canada are more expensive than USA and the population in USA are 10 times of Canada.  If the housing market in Canada bursts, the result of causing the recession will be much worst than USA because people can afford the house in USA, they relay on their inland economy no the external investors.
      In Canada, you need to watch the budget all the time because I was informed that the 401 and Don Valley Parkway are full of traffic during the peak hours.  Canadian Government would never think about to increase or improve the road system instead of building more houses and collecting more taxes instead.  In USA, the Government will improve the road system when the population; 401 and Don VAlley Parkway are like 30 years structure.  They never think about the change and improvement.
 
     Be alert and smart!
 
Love
Dad