Quote:
Originally Posted by photon
How exactly does he define high-ratio homeowners? And it's interesting that he goes from high-ratio to high-risk to "massive sub-prime mortgage scheme" in a few sentences.
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Less than 20% down is considered a high ratio mortgage. That's a huge percentage of homeowners that would be under water on their mortgage if prices declined. That table is directly out of the CMHC 2008 annual report.
And yes, the writer jumps to a lot of conclusions without really explaining himself well in places. I considered whether I should even post it because of that, but I found some of the data he compiled interesing.