Foreclosures hitting prime loans

[trent]

It looks like even people with prime loans are in trouble in US now:

http://finance.yahoo.com/news/Foreclosures-hitting-more-apf-24626172.html?x=0&sec=topStories&pos=2&asset=&ccode=

How long until this reaches Canada?

[Canadian]

All it is required is to have a 10% slide in real estate prices for more than 6 months. After that we'll have the same problems US had/have, but a liitle bigger...

[Elli Davis]

I'm afraid that the situation here will be a lot worse than the situation in the US. I really hope I'm wrong, though.

[Rickson9]

I'm afraid that the situation here will be a lot worse than the situation in the US. I really hope I'm wrong, though.

I hope that you will be right.

[trent]

I'm afraid that the situation here will be a lot worse than the situation in the US. I really hope I'm wrong, though.

What makes you think the situation will be worse that US?

[Elli Davis]

I hope that you will be right.

Why do you hope I will be right???

[Rickson9]

Why do you hope I will be right???

If you are right, then there will be a lot of opportunity.

[stevensonjames88]

^and what opportunity are you referring to? i think if the situation is worse in canada than in US it will be harder to fix it.

[Rickson9]

^and what opportunity are you referring to?

The opportunity of low prices.

[trent]

It would be great if the decline in the stock markets and commodities we saw last week is a beginning of a more substantial decline. If that's the case there will be great buys again, while the general public sells everything in panic :).