zlacker

>>eswat+(OP)
All sounds very plausible, but where are the effects of this? We should be seeing many people holding mortgages at HSBC not able to pay. Are there no public stats showing how many lack of payments being made to HSBC? Is HSBC going to hold on to these properties taking massive losses? For how long? It has definitely helped the run up of prices here. It will also help the collapse of prices as well, either that or the collapse of HSBC. Maybe the effects take a very long time to manifest. Lets hope it's not too long :)

>>beille+dg
Assuming these mortgages are insured through CMHC, would HSBC be on the hook or the insurance system when some of these mortgages fail?

Canadians are certainly paying for social services used by folks who earn income abroad and pay little to no income tax in Canada, and folks who want to buy their first house are harmed by inflated housing prices.

My currently overseas landlord for some reason needed to travel to Canada to give birth, and was very eager to get their health card / banking documents sent to our rental despite it being rented out for several years prior to us arriving...

>>faluzu+lk
CMHC doesn't insure mortgages where the property value is equal to greater than $1 million, which in the Greater Toronto Area essentially limits it to condo purchases.