|A Toronto home for sale. Ontario home prices have jumped roughly 30% since their crisis troughs, lending to worries about a Canadian housing bubble.|
Here we go again. A massive government funded housing bubble.
- An insane below market 1% interest rate to feed an economic bubble.
- Like Americans, the Canadians are getting equity lines against their homes, going massively into debt and spending like madmen.
- Will Canadian banks get pulled under by bad loans?
- Living within your means in "old fashioned".
I have concluded that the more education people have the more stupid they act.
Case in point, economists are fucking morons. The European economists have bankrupted the continent with endless bad loans. Chinese economists urge the building of phony "Ghost Cities" to create jobs. And Americans economists . . . . they should be put in jail.
Now we are looking at a government created bust in Canada. It looks like every nation is spending more than they make.
The Bank of Canada announced it would maintain its insane interest rate at 1%, which the central bank has kept steady since September 2010.
The Canadian Housing Bubble and Bust