Home-equity-loan balances in Canada per capita are now 3.3 times what they were in the US during HELOC peak before it all collapsed.
Nightmare scenario for the markets? They just shrugged. But homebuyers haven’t done the math yet.
China, Japan, other foreign investors, the Fed, US government funds? Nope.
This deal is “reminiscent of the kind of deal I would have seen in 2006 and 2007.” They’re still blowing off the Fed.
After the uproar about the Equifax hack, Congress did do something. And credit freezes are now a lot easier to place and lift.
They’re settling in urban centers. In many ZIP codes, they’re already the majority. And they spend their money on rent.
Bubbles don’t end well for those who don’t get out in time.
The soothingly low mortgage delinquency rate is a deceptive indicator: the New York Fed weighs in.
“Don’t write any more blog posts to blame pensioners for the collapse of Sears Holding after you wasted $5.8 billion on share buybacks.”
Defying my dictum that nothing goes to hell in a straight line.