Canada’s red-hot real estate and mortgage market is a place where a minority of unqualified home buyers get loans from unregulated firms. This occurs amid “mortgage fraud (that) has been on a rapid increase indicating how stretched many would-be buyers are,” a Deutsche Bank report notes. This description of a market surrounding the recent bailout of a mortgage lender, Home Capital Group, leads the bank analysts to ask: Is this Canada’s Minsky moment?
In Canada's hot mortgage market, borrowers can select their lender's...
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