Canadian Condo Craze will Collapse onto Taxpayers
Diane Francis
|
Posted 07.03.2012
|
Canada Business
Read More:
Foreign Buying,
Condos,
Canada,
Toronto,
China,
Hot Money,
Vancouver,
Buying Condos in Toronto,
Thailand,
Australia,
Condo,
Foreign Investment,
Real Estate,
Canada Business News
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.
