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Do you know what JG's reasons are for believing their housing market is ready for a downturn?

...

Pete



Well it is tough as 60% of Canucks own their homes outright and as you suggest most of the rest have much lower debt to equity than USians but since many "experts" have been predicting a US style housing crash in Canada for five years now I suppose eventually they expect to be right?

I have a policy of not paying attention to these fellows as they often use each other's blogs as their source of ideas for the necessary daily crud.


Any <still waiting for the promised crash... at what point do they declare victory and get on the last helicopter off the roof of the embassy> mouse


http://www.cba.ca/en/media-room/50-backgrounders-on-banking-...

Household Borrowing in Canada

Last modified: 15 March 2013

Fast facts
•68 per cent of all household debt in Canada is made up of residential mortgage debt which helps increase net worth, while 20 per cent comes from lines of credit and only five per cent is credit card debt
•Canadians with mortgages have significant equity in their home, averaging about 66 per cent of the home’s value
•64 per cent of Canadians pay off their credit card balance in full each month, avoiding credit card debt and interest payments altogether
•National mortgage-in-arrears numbers remain very low, at less than half of one per cent
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