Not Flaherty's- he hadn't brought in his mortgage changes yet.
Vancouver- according to Sherry Cooper it's our fault. We brought the class average down. Sorry, I know some of you find her voice grating :
Bad little old Vancouver
But don't worry too much. This is not the US for goodness sake. They had much more lax lending than us. We only had a few Billion HELOC here and a few Hundred Billion high-risk mortgages insured there.
Oh and of course we won't worry that our per capita debt is now at their pre-bust levels.
And we know why we are having a bad time in lotusland. Not enough Chinese money washing ashore this year:
Hat tip Best place on Meth The video shows the invasion of money slowed to a trickle, however we do know that the Chinese Government is loosening the spigots a bit, so we may have a few more Government officials on 50K salaries buying $2M westside homes :)
Fun with quant: MS Business Conditions edition - Marketwatch recently reported that Morgan Stanley's Business Conditions Index had deteriorated to levels last seen during the 2007-08 financial crisis. Wow...
8 hours ago