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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Box-By-The-Riviera™ who wrote (404853)5/15/2010 10:22:05 PM
From: Terry Maloney  Read Replies (2) of 436258
 
>>all mortgages in canada are gov guaranteed<<

Never got around to doing any real dd on this, but I told you I'd get back to you on it, so here goes ... <g>

That was/is our way of regulating mortgage lending, I'm pretty sure. No 10% down, no gov't guarantee, no mortgage ... & hence less problems and losses to the gov't going forward, not more.

I don't see a huge housing bubble (outside of Vancouver) either. fwiw ... maybe some fools in Toronto or wherever bought at the top of the cycle, but nothing like the liar loan chit.
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