RE:RE:RE:RE:RE:RE:Why the KPMG report mattersand thank you again for proving my point.
you don't even read the article that you cite.
A proximate cause was the rise in subprime lending. The percentage of lower-quality subprime mortgages originated during a given year rose from the historical 8% or lower range to approximately 20% from 2004 to 2006, with much higher ratios in some parts of the U.S Canadian sub prime market is way less than that maybe less than - might be around the 10 % so the same situation does not apply here again.
the us market conditions and the us mortgage market don't mirror the US
we don't have the teaser loans. , and ARMS, all the zero down liar loans etc etc. in your article that you didn't read, says ARMS were 90% of the sub prime loans- not so here. and witth new rules and new stress tests- new mortages will be more stable.
we do have these MIC companies- and I think they will are closer to the execess of the US sub prime loans. but they are not on the size and scale- we have not countrywide loans here.
I lived in SoCal during the meltdown. I witnessed it. this is not the same by any stretch-
and again what houses that were bought two or three years ago are underwater???????
you need a wider lens, a better map and learn the difference between Canada and the United states.
we are not the same, we don't function lockstep with them. why didn't we crash in 2008 then- we should have according to you?
you also keep forgeting that we dont have all the crazy MBS securities and the wall street shenangans of which I m sure you were watching at the time in canada.
the canadian economy is still strong. the US economy is still strong- god willing trump doesn't screw it up-.
and again what about the dire predictions of the crash of the Vancouver real estate market when the BC govt imposed the foreign buyers tax? where did the market go for the first few months? where is it today a year later? did the bubble burst?