Relevant:
- Six Canadian Banks Cut by Moody's on Consumers' Debt Burden
- Canadian housing bubble goes into full mania mode -- Canadian debt-to-personal income ratio near 145% while US at peak of the housing bubble was at 125%.
- Canadian Debt Slaves Pile it on
- Canadian housing market headed for a correction, BoC says
- Stop The Seller Funded Down Payment Assistance (SFDPA) Scam
2016-09-24 — wolfstreet.com
``Real estate is highly leveraged. It's funded with debt. Many folks cite down-payment requirements in rationalizing why the Canadian market cannot implode, and why, if it does implode, it won't pose a problem for the banks. However, an entire industry has sprung up to help homebuyers get around the down-payment requirements. So household debt has been piling up for years, driven by mortgage debt. ''
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