The Canadian Association of Accredited Mortgage Professionals estimates, homeowners in this country — of whom 60 per cent carry mortgages — owed nearly $1.2 trillion in mortgage debt last year, up from $664 billion in 2008. In other words, national mortgage debt has nearly doubled in just four years.
Debt fuelled our bubble, plain and simple.
- Tipper and See-Saw Time (1621)
- Tulip mania (top 1637)
- South Sea Company (1720)
- Mississippi Company (1720)
- Railway Mania (1840s)
- Encilhamento ("Mounting") (1886–1892)
- Florida speculative building bubble (1926)
- Roaring Twenties stock-market bubble (c. 1922–1929)
- Poseidon bubble (1970)
- Japanese asset price bubble (1980s)
- 1997 Asian Financial Crisis (1997)
- The Dot-com bubble (1995–2000)
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