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Why Canada's Housing Bubble Could Soon Become Your Problem


The Masked Tulip

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One percent

Bubbletastic. It will implode next so nothing for us ordinary people to worry about.  Unless we were fooled into buying into this madness 

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3 hours ago, One percent said:

Bubbletastic. It will implode next so nothing for us ordinary people to worry about.  Unless we were fooled into buying into this madness 

Nonsense. Let them eat bricks ... oh, wait ...

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Green Devil

Carney should be proud.He's changed cash into worthless toilet paper. People can't get rid of it quick enough.

And now he's here destroying our economy. May the fucker die a long lingering painful death.

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One percent
2 hours ago, Green Devil said:

Carney should be proud.He's changed cash into worthless toilet paper. People can't get rid of it quick enough.

And now he's here destroying our economy. May the fucker die a long lingering painful death.

Mind, you don't think that he is doing this on his own initiative?  It's planned.

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The Masked Tulip
On 26/04/2017 at 23:42, TheBlueCat said:

Well, it might have some impact as they're basically on the only (relatively) big place to do sub-prime type mortgages. However, read the text and you'll find "Canada's largest non-bank mortgage lender":

https://www.canadianmortgagetrends.com/canadian_mortgage_trends/2013/06/mortgage-market-share-top-10-lenders.html

Home Trust (which is the mortgage lending part of Home Capital Group) has 1-2% of the market.

I'm hopeful that the new 15% tax on foreign buyers might take some of the froth off the market but I don't expect a huge impact sadly. :(

 

Things are getting interesting with this pension fund bail out of this mortgage lender. According to Canadian sources the Chief Executive of the pension fund sits on the board of the mortgage lender. So, as you can imagine, people are beginning to ask questions whether it is in the best interests of the pension fund to be investing in this mortgage lender.

And what happens to the pension fund if the loan is not paid back - will the Canadian tax-payers be forced to bail it out.

Bankers huh?

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Yup read that article, pension funds being used to bail out a failed private organisation - obvious conflict of interests as the CEO of the pension fund sits on the mortgage provider board ... .when will the lamposts be swinging

... oh wait, it's OK there is $2 worth of collateral guaranteed for every $1 borrowed ... $2 of a worthless 'asset' ...

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  • 3 weeks later...

To add to the international flavour of this thread:

Driving on The outskirts of PP today and my driver (salary $200/month) shows me a shophouse new build he has just bought on finance. $72,000.

Not that he was intending to live there of course, oh no he said, once it is finished, I will rent it out for $300/month!!

Bubbles reaching basket-case Cambodia!

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