Canada facing massive mortgage crisis

Aug 31

Posted by

Tales from the Conspiratum

Source: Canada facing massive mortgage crisis — RT Business

RT Business

29 Aug, 2016Vancouver, B.C., Canada © Julie Gordon
Vancouver, B.C., Canada © Julie Gordon / Reuters
Hit by the sharp decline in oil prices the Canadian economy is struggling with a property market approaching the peak of a massive bubble, according to ex-Lehman Brothers trader and a financial writer Jared Dillian.

As Canada’s mortgage market is not securitized, the property crisis is expected to last much longer than in the US, where the loans are backed, Dillian said in an interview with Mauldin Economics.

The former trader says when the bubble bursts; it will be quite different from the sharp and sudden crisis in the US in 2008, due to the structure of the Canadian mortgage market.

According to him, almost all mortgages in Canada are “recourse mortgages”, with homeowners behind on payments not able to able to walk away.

Dillian expects the…

View original post 173 more words

Advertisements

About Lada Ray

Lada Ray is a linguist & former financial consultant with Smith Barney. Born in Russia, Lada lived and traveled to nearly 30 countries on most continents. She is the internationally certified Feng Shui Master and author of 3 novels + multiple novelettes; most notably, top-rated metaphysical thriller THE EARTH SHIFTER & bestselling thriller GOLD TRAIN (Accidental Spy Russia Adventure). Lada has extensively written re. Russia, world cultures, geopolitics, empire collapse, feng shui and consciousness. She is known for her accurate predictions. Lada's Blogs: FuturisTrendcast - geopolitics and predictions. Lada Ray Blog - books, writing, world cultures. We are presently working on expanding Lada Ray Youtube channel to include Lada's original geopolitical analysis and far-reaching global predictions, as well as her mystical futurism. The world is going through a massive tectonic shift of consciousness on all levels and in all aspects of life. Make sure you are prepared! Subscribe!

Posted on August 31, 2016, in Books. Bookmark the permalink. Comments Off on Canada facing massive mortgage crisis.

Comments are closed.

%d bloggers like this: