Canada Puts Housing Markets On $150-Billion Life Support

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There's a chance the government of Canada will own your mortgage in the coming years

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This graphic rendering shows a white colonial house falling to the ground, held up by a giant red and white parachute.

In just the past few weeks, the federal government and the Bank of Canada have announced they will be injecting at least $150 billion ― and probably much more ― into Canadian banks and mortgage lenders, to ensure they have the cash to keep lending.

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RedDeerNewsArea Why are they only looking at the Toronto and Vancouver markets? They’re not a true reflection of the Canadian real estate market in the rest of the country

Isn't this similar to Fannie Mae/Freddy Mack. In the end houses still crashed in US. Now all canadians are on the hook. Myself I would ask for a 3 million mortgage. If you dont need to worry about paying it back take as.much as you can. moralhazard

They can have it.

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