A blueprint for success

Steve Ladurantaye | Real Estate Reporter |Globe and Mail Update

What sort of economic insight do you get from the people walking through your doors?

A house sale is a vote of confidence in the economy. Someone saved money for 20-per-cent down or more and put it in a house. They have to be comfortable that the market will be okay and that they will have the capacity to make payments before they think of doing something along those lines. Unlike the U.S., people in Canada have substantial equity when they buy a house.

What if they run into trouble? Their stocks plummet, their business is ridiculous?

What about your other products? Your default rates on your credit cards are low; why is that?

We do okay in both environments. A recession is bad for everybody, but this is a very good time.