Check out Canada you bunch of punters. "No problem here!"
Let's see, Canadians have actually taken on MORE debt during this recession, and the CMHC has the explicit backing of the Bank of Canada to let our bankers off the hook when the housing bust inevitably comes our way. What's that going to do to our DEBT/GDP ratio? Aw, never mind, granite counter tops, multiple offers, 20% increases, $1M average selling prices..it's all good =)
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