BC mortgage slaves in trouble...

[trent]

More and more BC "homeowners" (read overleveraged borrowers) are in trouble:

http://www.cbc.ca/canada/british-columbia/story/2010/04/15/bc-mortgage-arrears.html?ref=rss

[Canadian]

Image what happens when the prime goes up a lousy 2-3%...

[Steven]

Well prices in Vancouver are crazy anyway you look at it, but calling them mortgage slaves is a bit too much...

Why do you think the interest rates will increase from here? The Canadian government has vested interest in high house prices, and they can and will keep borrowing costs low at any price.