Money GPS: "Liar Loans" Could Collapse Canada's Housing Bubble
In David Quintieri's video posted 15 May 2017, David talks about economic news, charts, and issues related to Canada's housing market.
Topics:
- Bank run on Toronto's Home Capital Bank -- Chart -- 94% of savings deposits disappear;
- "Liar Loans" -- Falsification of Income on loan applications;
- Alternative mortgages -- unreliable incomes -- subprime borrows;
- Canada Mortgage & Financial Group (CMFG) requires 1.5% of purchase price;
- Moody's downgrades Canada's Canada Big Six banks -- citing high consumer debt levels;
- And more...
14 minute video by The Money GPS published 15 May 2017
Source:
YouTube channel: The Money GPS
David's website: The Money GPS
I am not affiliated with the "The Money GPS", other than being a fan and avid follower of David's work.
The purpose of this post is to raise awareness of the "The Money GPS", give David's work a wider audience, and direct traffic to his YouTube channel.
They're doing it all over again. SMH.
That was my take too. Those who do not learn from history are bound to repeat it.
Have a great day!
Steem on,
Mike
Yep. Unfortunately we all bear the consequences of this nuttiness. Have a great one, Mike!
Having lived there and being a Canadian Citizen as well gives me some insight on this. I have always considered that allthough this beautifull country appears to be a heaven of its own. There have been many warning signs to indicate some very serious information control and impending doom. Of course this does not apply just to Canada but basically to any nations citizens who have been blindfolded and handfed for such a long period of time. I wish all the best for Canada and its people but I fear the worst could happen.
You are right that a systemic problem has infected many nations. Instead of dealing with the problem which would cause pain, leaders paper over the problem to placate the population.
Take care!
Mike
I am Canadian. There have been many more warnings sign. Prices are so inflated it is crazy. People owning rental property that can't rent because they want too much. And people are not making enough to rent. The government changing mortgage rules on the fly and continually claim there is no problems while they make the changes.
thanks for sharing this Mike, hadn't come across David before, Canada popping in progress sounds like, cheers
Thank you for the valuable information!