Canada
Is Going Bust!
Canada Housing Bubble Pops and Looks Similar to US Housing Bubble: Canada’s Largest Alternative Mortgage Lender Crashes in Dramatic Fashion.
The Canadian housing market is now facing a crisis like moment as the United States did in 2007. While the U.S. housing market did undergo a correction, the Canadian housing market just kept moving up.
Canada has one of the largest housing bubbles ever witnessed in North America. People may recall that in the U.S. we had mortgage lenders like toxic junk pusher New Century Financial that imploded in grandiose fashion because of their corrupt and mathematically dubious products that they were peddling to the market. Well in Canada, the tip of the iceberg is now being exposed. Home Capital Group tanked by 60 percent after announcing that it needed emergency liquidity. Of course this is just the start of the correction for our neighbors in the north.
DYI
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