Harper government and Canada Mortgage and Housing Corporation (CMHC) becoming world’s biggest sub-prime lender…concern that CMHC the next Freddie and Fannie…CMHC insured $600-billion mortgages in march…

(Source: National Post)

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 Diane Francis’ full article “CMHC bubble is 100% made in Canada” in the National Post (October 22, 2009).

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