I am Canadian and had simply graduated highschool into the good recession, Canada did a lot better.
This time round, it seems like Canada turned overconfident and is way more topic to rampant hypothesis which has been constructing since not less than 2015, not less than in large cities like my hometown of Vancouver.
Given the chance right here is rising charges and Canada has largely variable or 5 12 months phrases at finest, whereas the US has primarily 30 12 months mounted mortgages the place householders will not be uncovered to this, I feel Canada is trying in a a lot worse place for a banking disaster now.
It will be a slower course of because the 5 12 months phrases slowly roll over to new charges, however Canadians are about to get fucked up exhausting on mortgage funds and this may squeeze the economic system exhausting all over the place else.
