In This Episode:
We have been waiting for the cooling of Canada’s real estate market. When oil prices took a dive, oil based areas of Alberta immediately saw a huge correction. Today we have extraordinary prices in Toronto, Vancouver, and others and it would seem nearly impossible to stop. Today, we see sales dropping massively, and we anticipate the Bank of Canada reducing liquidity, to stop fanning the flames that have made real estate completely unaffordable to many.
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See also Below is a list of the total Commercial Real Estate exposure of the 53 banks with greater than $10 billion in assets where their exposure exceeds 300% of total equity capital. Sixteen have exposures greater than 400% of equity.
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Bubble meet pin = pop