Canada's "New Century" Moment
Author and economic analyst John Sneisen sits down with Josh Sigurdson to talk about some serious new developments in Canada as the housing bubbles in Toronto and Vancouvr among other cities begins to burst following what has been deemed Canada's "New Century" moment.
As market manipulation gets steeper and steeper, there was no doubt this was eventually going to happen. This is the inevitable end of artificial markets. This is what happens when markets listen to government and central planning rather than individual demand.
Home Capital Group has seen a stock plunge of 60%, this as the Toronto and Vancouver real estate markets inflate to all time highs. Collateralized Debt Obligations (packages of bad mortgages with a couple good mortgages in order to rate them high) are seeing more light in recent times in Canada which is very reminiscent of what we saw in the United States in 2008 right as the bubble burst.