Quote:
Originally Posted by Torture
Nevermind that she's fundamentally wrong about CMHC and how interest rates are set, let's have the Alberta Government, who's revenue is tied to the prospects of the Oil and Gas industry, back mortgages in Alberta, that are also influenced by the oil and gas industry. Anybody remember what happened to housing prices in Calgary in 2015?
Not a risky house of cards at all.  |
Well, what she COULD do is create low threshold backstop mortgages just like the USA!!!! You see, if anyone can get a loan at a low interest rate with little to no credit history (or poor credit) so we all get new homes and speculators get 5. Then these mortgages can then be sold off to investors!! If rates go up or the market drops, everyone can just walk away from their homes because it isn't the banks that hold the liabilities, it's the investment firms. Win/win!!
I mean, I think there's a movie about this being done in the USA, but I can't quite remember. Who cares though, really.
Make it happen Danielle.
PS can we also get an Alberta Space Force going please? I want to go to Mars.