Why Canada's Economy is headed off the cliff

pbs.org

1 pointMankhool3 comments

Does not mention that Toronto gets 40% of Canada's immigrants and that all the homes are snapped up in a hurry. Also, the borrowers have to generally be well-qualified because Canadian banks are much more conservative when it comes to giving out loans than their American counterparts.

I don't live in Canada anymore, but I'd suspect your second point is somewhat negated by the articles reference to private lenders supplying sub-prime loans.

I have no idea what types of systems are in place in Canada to manage this, and I thought the banking system would not allow private lending on that sort of scale, but I'm really not knowledgeable in this area.

Ah, you're right. I'm not sure what vehicles private lenders in Canada have to secularize debt.

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