Consider how Canadians have been whipped up into a FOMO real estate frenzy by a combination of our government sponsored ZIRP and NIRP, high ratio loan to value insurance schemes and outright cash helicopter drops all at the expense of you dear taxpayer.
We've all been punked and taken to the cleaners in Canada and weak handed mortgagors are at the highest risk as fear of missing out turns to fear of getting in.
Yes, the speculative boom has kept us employed in the FIRE sector of our economy but we have opened the doors to global forces beyond our societal controls.
THE VANCOUVER MODEL
FOR MONEY LAUNDERING
SPREADS ACROSS CANADA
Analysis by Global News suggests the same extended crime network may have laundered about $5 billion in Vancouver-area homes since 2012. Global News, November 26, 2018
The C.D. Howe Institute study estimates of money laundering in Canada range from $5 billion to $100 billion. C.D. Howe Report, September 2018