Quote:
Originally Posted by ranchlandsselling
But like I said earlier - I'd rather see the government or banks focus on the even more stupid lending.
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The capacity for the 'stupid lending' you cite is ultimately determined in many ways by the housing market. I'm willing to bet that the only way many of Canada's leverage kings have avoided bankruptcy the past decade is that that their homes have increased so rapidly that they were able to get off their credit card balances by folding it into a HELOC or consolidating debt with their mortgage. Had homes not appreciated above and beyond real GDP the past decade I'm willing to bet a lot of people would have had to pound sand and cut back or just flat out seek out bankruptcy. It's why I'm thankful the BOC is not run by CREA.