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Mortgage Broker News | 10 Jun 2013, 12:00 AM Agree 0
The man who wrote a report urging the privatization of the CMHC back in 1979 says today’s housing market problems were predicted more than three decades ago.
  • Barbara Buote | 10 Jun 2013, 10:26 AM Agree 0
    As a banker in "those days", in Alberta where the market collapsed due to the oil industry situation at that time, interest rates were at an unprecedented level at 18-21% for a 5 year term. It took up to 10 years for home values to reach 1979 levels in that province.

    Therefore, comparing the report prepared in 1979 to 2013 is somewhat skewed in its relevance considering today's interest rates.
  • Alex Haditaghi | 10 Jun 2013, 03:50 PM Agree 0
    Professor Larry Smith's bragging about a 40 year old report of his that still hasn't come to fruition is ridiculous! There are no housing market problems. market is soft but there is no market crush.

    CMHC still a very profitable crown corporation. and look at the south of the border.Fannie and Freddie Continue to Struggle in USA and they are private!
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