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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Bucky Katt who wrote (69631)	9/28/2007 12:24:27 AM
From: Proud Deplorable	Respond to of 116555

thats total rubbish because young first time buyers are using up to 75% of their income to pay their mortgages here. The rule used to be 30% but that has been trashed by the lending institutions. So Canadians don't need sub prime mortgages to be in the same trouble. The same greed has been just as prevalent here as in the US with large percentages of people buying homes as investments for very little down payment or refinancing to build their empires based on fake home assessments as well. As long as the prices keep going up the psychology isn't damaged but as soon as the market starts crashing as it is in places like Edmonton, you'll see the pigs scrambling to get out of the mud but they will be stuck....pass the lipstick Message 23920839