zlacker

>>eswat+(OP)
To maybe offer a different perspective: I think the Canadian mortgages linked to Chinese accounts will likely all be paid. What may be happening is that there is a lot of underground chinese financial activity that is not recorded in Canada and part of this 'network' is utilized to get money out of china.

>>Sunlig+bn
> I think the Canadian mortgages linked to Chinese accounts will likely all be paid.

This is a "heads, I win", "tails, you lose" type of scam. The mortgage holders are all judgement proof. They have no income or assets to go after. So if the housing market crashes, the banks have no recourse.

It's the same as taking out a mortgage and instead of buying a house, you go to the casino and bet double or nothing. Sure, the intention to pay back is there. But it is contingent on the investment performing, and the bank is taking on unknown risks.

>>avidia+IG
> So if the housing market crashes, the banks have no recourse

The housing market must first crash before the problem is tangible, and there's no sign of that happening.

>>raydev+7S
Yes that's exactly what the person you're replying to said