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vyelkin posted:It's not just the UK, Canada and Australia are also inflating housing bubbles. I don't know a lot about the Australian case but in Canada it's essentially being done to allow debt-laden consumers to continue spending even while underwater because there's nothing else driving any economic growth at all. See: the related thread. With oil prices cratering Canada's last major industry is housing. Coupled with Canadians saddled with tremendous mortgage debt backed by a federal mortgage agency and, well, you Americans know how well that goes.
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Jan 21, 2016 17:54
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