Canada facing massive mortgage crisis

Aug 29, 2016

Canada facing massive mortgage crisis

Aug 29, 2016

Hit by the sharp decline in oil prices the Canadian economy is struggling with a property market approaching the peak of a massive bubble, according to ex-Lehman Brothers trader and a financial writer Jared Dillian. As Canada’s mortgage market is not securitized, the property crisis is expected to last much longer than in the US, where the loans are backed, Dillian said in an interview with Mauldin Economics.

The former trader says when the bubble bursts; it will be quite different from the sharp and sudden crisis in the US in 2008, due to the structure of the Canadian mortgage market. According to him, almost all mortgages in Canada are “recourse mortgages”, with homeowners behind on payments not able to able to walk away. CONTINUE


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End Time Headlines is a ministry founded, owned, and operated by Ricky Scaparo, established in 2010 to equip believers and inform discerning individuals about the “Signs and Seasons” of the times in which we live. Ricky authors original articles and curates news from mainstream sources, carefully selecting topics, verifying information, and utilizing artificial intelligence tools to ensure content is both timely and accurate. Every piece is personally reviewed and edited by Ricky to align with the ministry’s mission of providing a prophetic perspective on current events.

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