The market continues to be wobbly all over the place. Through a “erroneous order routed from another exchange” Google’s stock price dropped over 30%. Isn’t that just what the market needs? A confidence booster?
Either way, I sent off the signed paperwork for my mortgage today. I was genuinely concerned that lending would temporarily stop if something happened like the Dow dropping 30% and the exchange closed.
Worried about the stock market? Your RRSPs?
Buy Alberta real estate instead of stocks or mutual funds. If your RRSPs are in something that’s even semi-liquid I pay double what you’re getting now from your GICs or bonds for RRSP mortgages. In a recessionary or inflationary economy hard assets perform the best, and Western Canada’s going to be at the front of the whole thing.