Canada housing bubble thread
A thread to discuss the Canadian housing bubble (namely Toronto and Vancouver) driven by mortgage fraud, speculation and credit expansion. When will it crash?
I think we saw the first blood this week!
Home Capital Group Inc, a federally regulated trust company offering mortgage lending, has seen its shares tumble 60% today. Yesterday, the Ontario Securities Commission alleged that the company failed to properly disclose mortgage underwriting process flaws to investors. Sounds maybe like a bit of mortgage fraud.
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