U.S. Foreclosures are at an all-time high and stories about the Canadian impact are everywhere.
The Financial Post compares the Canadian and U.S. “exotic” mortgage market, and suggests we are sheltered from the storm.
The Gazette says it’s because we Canadians are boring.
The Vancouver Sun says Canada’s subprime business will explode (maybe “soar” is a better word given this week’s U.S. disaster).
The Globe and Mail suggests America’s trouble’s will make it harder for Canadians to get subprime mortgages at reasonable rates.
For people looking to find someone to blame, the Edmonton Journal says there’s two likely candidates: lenders and borrowers.
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