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Top Canadian Court Permits Worldwide Internet Censorship
Top Canadian Court Permits Worldwide Internet Censorship A country has the right to prevent the world’s Internet users from accessing information, Canada’s highest court ruled on Wednesday. In a decision that has troubling implications for free expression online, the Supreme Court of Canada upheld a company’s effort to force Google to de-list entire domains and […]
Saudi Arabia top non-U.S. destination for Canadian arms exports: federal report
Saudi Arabia top non-U.S. destination for Canadian arms exports: federal report LAVs (light armoured vehicles) and components similar to the one pictured above are among the top military exports Canada sends to Saudi Arabia. (Bill Graveland/Canadian Press) Saudi Arabia has regained its title as Canada’s top non-U.S. destination for exporting military goods after having been […]
China’s “Ghost Collateral” Arrives In Canada, “Heralding A Crisis”
China’s “Ghost Collateral” Arrives In Canada, “Heralding A Crisis” Two weeks ago, a key China-linked concern that made headlines back in 2013 and 2014 reemerged after an extensive analysis by Reuters reporter Engen Tham found that China’s “ghost collateral” problem, or collateral that was either rehypothecated between two or more loans, or simply did not […]
All Heck Breaks Loose in Toronto’s House Price Bubble
All Heck Breaks Loose in Toronto’s House Price Bubble “It’s fear.” During the first two weeks in May, according to preliminary data from Toronto Real Estate Board, home listings surged 47% from the same period last year even as sales plunged 16%. The average selling price dropped 3.3% from April – and this, after a 33% […]
$100 Increase In Monthly Mortgage Payment Would Sink 75% Of Canadian Homeowners
$100 Increase In Monthly Mortgage Payment Would Sink 75% Of Canadian Homeowners According to a new survey from Manulife Bank, nearly 75% of Canadian homeowners would have difficulty paying their mortgage every month if their payments increased by as little as 10%. And, given that the average house in Canada costs roughly $200,000 and carries […]
Canadian banks set to reveal quarterly earnings amid housing & debt concerns
Canadian banks set to reveal quarterly earnings amid housing & debt concerns Ratings agency Moody’s downgraded the credit ratings for Canada’s big banks earlier this month, citing concerns that over-stretched borrowers and high house prices have left lenders vulnerable to potential losses. (Dillon Hodgin/CBC) The Canadian banks are expected to benefit from rising U.S. interest […]
‘The worst scenario’: What if Canada’s real estate bubble bursts?
‘The worst scenario’: What if Canada’s real estate bubble bursts? A repeat of Toronto’s 1989 crash could have devastating effects on the entire economy Builders work on a new home in North Vancouver in 2016. The average home price in Canada climbed by 10 per cent to $559,317 in April, the Canadian Real Estate Association […]
“Canada Hasn’t Seen A Bank Run Such As This In Decades” – Finance Minister Says Home Capital Bailout Is Possible
“Canada Hasn’t Seen A Bank Run Such As This In Decades” – Finance Minister Says Home Capital Bailout Is Possible When we first said three weeks ago that the spectacular, sudden implosion of Canada’s largest alt-lender Home Capital Group or HCG – whose fate we had followed closely since 2015 – was Canada’s own “New […]
Canadians fight floods across the country
Canadians fight floods across the country Thousands in Central Canada, the Atlantic and B.C. spend the weekend struggling with rising water levels Erick Miner comforts a cat rescued by boat from a home Saturday on Rue Saint-Louis in Gatineau, Que., as rising river levels and heavy rains continue to cause flooding. (Justin Tang/Canadian Press) Across […]
Wet weather walloping much of Ontario, Quebec and heading east
Wet weather walloping much of Ontario, Quebec and heading east Ottawa River, Laurentian communities hit hard; New Brunswick expected to be next Some Pointe-Gatineau, Que., residents have had to abandon their cars trapped by flooding. Firefighters have gone door-to-door in parts of Gatineau to warn residents of the dangers of staying put as forecasts call […]
Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender
Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender As discussed first thing this morning, the fate of Canada’s largest alternative mortgage lender, Home Capital Group, appears to have been decided over the weekend, when in the span of just one week, over 70% of the company’s deposit base had been withdrawn, effectively […]
The Sound of One Wing Flapping
The Sound of One Wing Flapping And suddenly the storms of early Trumptopia subside, or seem to. The surface of things turns eerily placid as the sweets of May sweep away the toils of an elongated mud season. Somebody stuffed Kim Jong Un back in his bunker with a carton of Kools and the Vin […]
Sorry Vancouver, But Toronto Is The King Of Risky Mortgage Debt
Sorry Vancouver, But Toronto Is The King Of Risky Mortgage Debt Canadian real estate values continue to soar, and a record number of buyers are piling into risky loans. According to the Bank of Canada (BoC), and the Ministry of Finance (MoF), high ratio mortgage borrowers are extending themselves to the limit. While we covered […]
This Is What A Bank Run Looks Like: Home Capital Loses 70% Of Deposits In One Week
This Is What A Bank Run Looks Like: Home Capital Loses 70% Of Deposits In One Week In the beginning it was a slow pace, then it became a casual jog. Then, starting early last week, the jog morphed into a full-blown run, and – as of the past 3 days – the withdrawal of […]
Panic Bank Run Leaves Canada’s Largest Alternative Mortgage Lender On Edge Of Collapse
Panic Bank Run Leaves Canada’s Largest Alternative Mortgage Lender On Edge Of Collapse After two years of recurring warnings (both on this website and elsewhere) that Canada’s largest alternative (i.e., non-bank) mortgage lender is fundamentally insolvent, kept alive only courtesy of the Canadian housing bubble which until last week had managed to lift all boats, […]
