Quote:
Originally Posted by photon
Because the bank lending rules here were never even close to what they had down in the US.
There's a vast difference between a 30 year vs 25 year mortgage and the reverse mortgages and stuff they had down there and had their debt service ratio requirements.
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I am looking more from the standpoint of debt-to-income ratios and Canadians ability to service the loans. People have been saying this for years how Canada is so much safer/smarter/more secure/best banks in the world/different/stricter rules/should be the model for banks on a global basis etc.etc. If you look at things from the payer point of view and not the lender......debt to income over 150% etc.etc.