100 Year Amortizations coming to Canada: Big banks to report results as mortgage ‘deferral cliff’ starts to loom, loan loss expectations rise – May 25, 2020,
So yeah, here it goes, 100-year amortizations how about it Canada? Are you ready for them? Because they’re ready for you! If you ever wondered why Liberals and Leftists don’t seem bothered by all the debt, it’s because countries like Japan are in far worse financial shape and have used their central bank to create all sorts of madness!
A mortgage is after-all called a Death-Pledge, so a 100-year amortization sounds about right to me, in Sweden, everyone likes Sweden I think has an amortizations at 105 years, this is one of the reasons I always laugh at Gold Bugs like Peter Schiff who thinks Americans should abandon the US dollar and invest in foreign stocks?
What foreign stocks? They’re all screwed, there is all sorts of financial madness going on in this planet, but what operates Canada, is that our financial madness isn’t supported by our small business community, we have high-income taxes and we combined it with a lot of regressive taxes, o there’s no real support system for the Canadian economy except for Canadians ability to pay down debt and our pretty good banking systems.
It’s possible that there’s a hard crash to the Canadian economy, but based on my research it appears that we’re going to slowly decline, the money is simply going to dry up faster and faster domestically, in other words I don’t save Canadian dollars!
Canadian dollars in my world are hot potatoes, real estate in my opinion will be bailed out with a bunch of different government initiatives and the Canadian taxpayer will pay for it!
I hate to say it, but I started laughing when I heard people with MORTGAGES needed a government bailout within 1 month of COVID-19, really think about that or a moment, not 5 months not even 2 months, within a month a large segment of the Canadian population need a government bailout to pay their mortgage!
That tells me everything I need to know about what’s going on in the Canadian housing market!
Interesting times ahead!