“Canada is not immune. Just because nothing happened in Canada in 2008 (a U.S.-centered crisis), does not mean that Canada is not vulnerable to a housing correction now.”
“The market may break because the fundamentals are not sound (i.e. overvaluation of homes), not because of OSFI guidance. Previous failures of Canadian financial institutions were due to bad real estate lending and sharp falls in housing prices, and these can happen again."Somehow I get the feeling the battle over these proposed changes is only just getting started.
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