by GLOBE & MAIL
Thanks to low salaries and high housing prices, young families are building lives atop mountains of debt, Marjo Johne writes
While their family and friends were shopping for Christmas gifts last December, John and Rosemarie were busy buying a house. With a bank mortgage of $213,000 and $72,000 in cash — cobbled together from their savings accounts and a money gift from John’s parents - the twenty-something Toronto couple bought an 1,800-square-foot house that they plan to move into after their wedding this summer.
Because the house is a fixer-upper, which they gutted down to the brick after buying it, John and Rosemarie took out a joint line of credit for . . . (Read More)