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Old 11-12-2008, 02:30 PM
trent trent is offline
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Join Date: Jun 2008
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The Canadian financial system might appear safe on the surface, but this is simply because the Canadian housing downturn just started. As the down pressure on housing prices accelerates, there will be more foreclosures (think Toronto, Calgary, Vancouver, Montreal) and even lower prices. Banks will lose lots of money on all these foreclosures and bad loans and they will have to be bailed out as already happened in US and Europe.
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