...while you may argue that these subprime borrowers got themselves into it, that they're the authors of their own misfortune, the Conservative policies that made this possible have wreaked damage that has spread throughout the real estate market.Garth Turner with more.
Especially today with Republican conservative subversion of global securities/stock markets, many Canadians are seeing their retirement portfolios crater before their eyes. Now Harper/Flaherty have undermined their fallback retirement asset, their home equity. They did it in the deliberate pursuit of a mad, uber-right ideology and we're all going to pay dearly for that.
Saturday, December 13, 2008
This post from the Mound of Sound is well worth a read, adding further perspective on the report in the Globe today on the Conservative 40 year mortgage experiment: