RE:Middle of recession is now.Greetings Ed...this is from a newsletter writer I subscribe to. Do you or anyone else share these concerns? Canadian banks are going to get into trouble with their large mortgage exposure on housing. I expect Canadian Banks will loose half their value. This will be larger than the 1980 collapse because back then $200,000 was considered a high mortgage, now it is around $800,000. A recent survey by Manulife found that 1 in 4 Canadian home owners feel they will be forced to sell their homes if interest rates keep rising. Those are huge numbers.