http://seekingalpha.com/article/3924316 ... nity?ifp=0The housing bubble in Australia has been talked about so extensively and has lasted so long without any harm coming to it that people here have pretty much dismissed the very possibility of a crash
Housing Bubble - Aussie style
Housing Bubble - Aussie style
At the bottom of the article there is a 60 Minutes documentary on the Australian housing bubble.
Re: Housing Bubble - Aussie style
Sounds like Canada. I am given to understand that the Canadian banks have 1 trillion in residential mortgages. Most of those loans are CMHC insured. Hopefully it has enough in reserves to handle a crash.
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Re: Housing Bubble - Aussie style
Closer to $1.3T in mortgage debt.Thegipper wrote:Sounds like Canada. I am given to understand that the Canadian banks have 1 trillion in residential mortgages. Most of those loans are CMHC insured. Hopefully it has enough in reserves to handle a crash.
I don't think most of those loans are CMHC insured. Any source appreciated.
Re: Housing Bubble - Aussie style
Some of that mortgage debt would be second mortgages, line of credit mortgage and mortgages that don't require a guarantee. Then some of these mortgages would be held by credit unions and smaller lenders like Bank of Western Canada, Home Capital, Laurentian etc. From what I can gather CMHC guarantees close to 600 billion and has about 15 million in reserves. CMHC competes with two private sector firms which provide mortgage insurance.Flaccidsteele wrote:Closer to $1.3T in mortgage debt.Thegipper wrote:Sounds like Canada. I am given to understand that the Canadian banks have 1 trillion in residential mortgages. Most of those loans are CMHC insured. Hopefully it has enough in reserves to handle a crash.
I don't think most of those loans are CMHC insured. Any source appreciated.
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Re: Housing Bubble - Aussie style
^ The amount of debt that Canadians have is frighteningly crazy.