CMHC bubble is 100% made in Canada
ARPA Note: We are looking for insight and feedback about the issue below and the broader topic of applying our Christian worldview to the current financial situation. Please email [email protected] with your comments, thoughts, or suggestions of who would be good to speak to this.
Diane Francis, Financial Post Published: Thursday, October 22, 2009 – Ottawa has been creating a housing bubble in Canada with taxpayer money, which is why residential real estate prices rise in defiance of high unemployment and recession. Ottawa’s low interest rate policy and Crown agency Canada Mortgage and Housing Corporation’s dramatic increase in mortgage backstopping, for people who put only 5% down, have pushed up activity and prices. Read more here.