/biz/ - Business & Finance

>>5689744

THIS FUCKING THING IS GOING TO HIT 1 DOLLAR BEFORE MIDNIGHT!

>>802036
>What is fixed rate loan

You're somehow implying that the same loan terms are available to Canadians. At best you can lock into a fixed rate for 10 years, at a much higher lending price.

The reality of the situation is people are taking on $700-900k loans with only a minimal deposit and the lowest variable rate of 2.5-2.7% which they will have to renew in 5 years, most likely at 4-5%, which at that point they won't be able to afford.

And therein we have the recipe for the greatest consumer debt collapse that the Canadian economy will have ever seen. The governments will fight it, but government has only so much control over a jet diving into the ground.

Now imagine that the jet is a Concorde, that's been rec-commissioned for service and is at it's cruise speed of 2.0 Mach, and now imagine that the Canadian housing market is like in the middle isle of the Concorde, on a wheeled cart, and the lane is coated in a graphite lubricant polymer..