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Investors Who Made Cash Off U.S. Housing Collapse Now Betting Against Canada: Reports
– walletpop.ca
Vancouver expected to be epicentre
Similar bets against Canada made in 2013, no collapse followed
When it comes to Canada’s housing markets, there’s a big difference between how Canadians perceive things and how the rest of the world does.
While the vast majority of Canadian bank economists, political leaders and industry insiders say the risk of a housing-bubble collapse is minimal, many international investors disagree.
According to a report at the Financial Post, large U.S. investors who made money predicting the collapse of the U.S. housing bubble are now betting on a housing-market collapse in Canada, putting money against Canadian banks, mortgage insurers and subprime lenders.
“All of the big global macro funds that were involved in betting against the U.S. in 2007 and 2008 and 2009, they’ve all studied Canadian housing for a few years,” an analyst who did not want to be named told the Post.
“I know a number of them are shorting Canadian housing…
Canadians unwilling to drop bad spending habits
– moneysense.ca
(Getty Images – Betsy Van Der Meer)For the many Canadians, improving their financial situation is just wishful thinking.
According to a new survey by BMO Bank of Montreal, while 88% of Canadians said that they would like to better the state of their finances, a third said they’re not willing to make the sacrifices to do so.
However, this stubborn attitude isn’t preventing more than a third of Canadians from regretting past money mistakes. Around 37% of participants regret spending outside of their means, while 36% lament making impulse purchases.
READ: Student debt-free in just 2 years »
So what’s the cause of their fiscal woes? Around 38% blame bad spending and saving habits for negatively affecting their finances.
In fact, 17% say they have actually felt ashamed or embarrassed by the state of their financial situation and 13% have avoided glancing at their statements or bills altogether.
READ: How to pay off the mortgage in just six years »
“Without healthy routines it’s easy for people to develop a negative relationship with their financial situation, but that doesn’t mean there aren’t ways to change things for the better,” BMO’s Christine Canning said in a press release…
