Foreign Buying

Canadian Condo Craze will Collapse onto Taxpayers

Diane Francis | Posted 07.03.2012 | Canada Business
Diane Francis

Conventional wisdom is that this is the market at work. This is not the market at work. This is manipulation of a government system of open-ended mortgage insurance that is poorly supervised. What is going on here is a deluge of hot money from abroad that is creating an artificial, and potentially dangerous real estate bubble.