The most alarming thing about Canada’s housing market is routinely ignored – The Globe and Mail

Posted: March 12, 2015 in Canadian Politics, Economy

“In other words, if you are thinking about buying RBC stock, no need to assume the bank would suffer big losses in the event of a housing crash: it will be taxpayers who take the hit. Mr. McKay and the leaders of Canada’s other big banks can make bets on the positive indicators – and play down the bad stuff – because they have relatively little to lose. They have every incentive to go all in on housing – and they have. The chartered banks are holding almost $1-trillion in outstanding residential credit, according to Bank of Canada data.”

See full article @: The most alarming thing about Canada’s housing market is routinely ignored – The Globe and Mail.

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