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Readers on the recession

Readers were asked: How are you managing in this economic environment?

Q. Readers were asked: How are you managing in this economic environment?

A. I work for GM and have not worked 40 hours for more than four months. This is after more than 16 years at the plant. My wife makes half my salary and covers our mortgage.
— Carl


A. I am an independent IT consultant for more than eight years. My most recent contract with Rogers was not renewed. My understanding, as confirmed with other fellow IT colleagues, independents are the first to go. Recently, I accepted a contract at 30 per cent below my last position. My car and house payments have not changed and must be paid every month.
— Ahmad

A. The Toronto real estate market experienced about three months of a slowdown. Housing prices and sales are on the rise. Based on my experience, the market is brewing and it is a good time buy. Good agents do well, regardless of the market.
— Paul

A. My husband lost his job December 2008 and did not find work until June. We were deeply distressed and did not know what we would do. We have two children. I must thank my financial adviser at our TD branch for introducing us to a program that helps defer and refinance our mortgage.
— Coleen and Darin

Thank you to all readers for your emails.

– Henry Choo Chong, CGA, can be reached at choochonghcga@yahoo.ca and 416-485-5225.

 
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