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why a US housing crash won't ever happen in Canada
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 27945631:MV8yMTQxNDg3XzM2MTYyNzE2X0VENUQwQjZD] [quote:Anonymous Coward 29174238:MV8yMTQxNDg3XzM2MTYyNjQ0XzdGRTZGNDMy] [quote:Anonymous Coward 27945631:MV8yMTQxNDg3XzM2MTYyMjk0X0NENDEyMkEz] [quote:Anonymous Coward 29174238:MV8yMTQxNDg3XzM2MTYyMjIzX0IwRDE2RUNC] [quote:Anonymous Coward 27945631:MV8yMTQxNDg3XzM2MTYyMTQ3X0UzQTBCMzBE] [quote:Anonymous Coward 961432:MV8yMTQxNDg3XzM2MTYyMDA5XzYxQjYzMTM5] Easy to tell, if the price of an average home, say 2,000 for a middle income class family is roughly 2.5 times their annual income, and a vast majority of the loans for the homes included a 20% down payment then Canada would be fine. If your banks are lowering lending standards, and via the prime rate making artificially low interest rates (say less than 4%) Canada is blowing a bubble in their housing valuations. . [/quote] sound banking practices saved Canada. U.S. administration should have learned from the Canada. we could have helped. [/quote] You do realize that the US Government legislated the banks to provide loans to people discriminated against, otherwise known as minorities right? In otherwords, promoting communism and interfering with the free market. That was the catalyst for the meltdown, anyone with a heartbeat could get a huge mortgage, no money down and even cash back to furnish it. Enter the greedy bankers and creative marketing/packaging of completely worthless paper and you have a crash. We are not out of the woods yet by a longshot, but if we have a housing correction it will be for different reasons. However, they always occur, no bull market last forever. [/quote] Canadian bankers showed way more more prudent lending. smart people! therefore, no crash will happen here. i'm not talking about prices coming down a tiny bit. i'm saying NO crash. perhaps a slight decrease? [/quote] A slight decrease is already happening. Any movement in interest rates will send it into the gutter but they are remaining steady. Sooner or later the puppet masters will yank the strings though. [/quote] but my post is saying it will not crash, not decrease slightly. yes, i agree, as i said above, that it may decrease a bit. however, you will not see a crash in Canada. kudos to Canada. [/quote]
Original Message
cuz it just won't. smart people running the show.
thoughts?
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