Dear Readers,
This month's newsletter takes a deeper look at what we believe is the real reason Canada's housing market performed as well as it did during the recent recession. Our research indicates that the CMHC provided over 50% of the financing for the Canadian housing market over the past few years through its NHA-MBS securitization trusts and this level of intervention has not decreased even as the economy has improved. In addition to worries about rising interest rates, real estate investors should also consider what happens when/if CMHC removes this level of support.
As always, your comments are most welcome.
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