Canadians are resorting to risky strategies in order to finance home purchases and fuelling the bubble in the process.
Canadians are resorting to risky strategies in order to finance home purchases and fuelling the bubble in the process. That’s the warning from Yale lecturer Vikram Mansharamani who has added his voice to those forecasting trouble ahead. His main concern is that more homeowners are dipping into the equity in their property to fund renovations or help family members, especially their children, to get on the property ladder. In a recent blog post the lecturer likened the situation to a cartoon: “In this Loonie tune, it seems our Crazy Canadian Coyote has run off the cliff, his feet are still moving, but he has yet to look down.” Read the full story.
