RBC gets down grade!

[SASKFARMER3]

To big to fail, bs. We're safe etc etc. well why did
they get a down grade, are we safe in canada. Or
are big dogs connected, and maybe teetering.

[cottonpicken]

Our banks are over leveraged and the assets they
hold are collapsing in value,especially out of country
stuff.

One other thing that happened and was maybe
missed by some,was the mortgage rules changed
again.

Flaherty announced a lint of 25 year amortization
down fro 30(it was 40 a few years ago)

He also changed the debt servicing requirements
rules for loan applicants.

Canadas median home price is 42 percent higher than
the us's when that bubble broke.

You might want to read that again.

Theoretically we could see a 50% drop....on a trillion
dollar mortgage market....half on the banks back and
half on the tax payers.....but i would bet a quarter
section of land that flaherty would bail them
out....instantly putting canadas debt to gdp ratio with
greece's.

[SASKFARMER3]

I think it could be steeper. Our 700.
house in regina is really worth 350 most
tops thats it. Young couple just purchase
one down the block. Yikes.