CANADA’S PHANTOM REAL ESTATE WEALTH IS DISAPPEARING.
Much of the equity accumulated since 2002 is phantom wealth, inflated by decades of excessive credit growth.
Most homeowners either don't understand this or refuse to accept it.
As property values fall, equity evaporates, but the debt remains.
More homeowners will face insolvency and bankruptcy.
A reform in bank lending will emerge...one based on income not how much debt you can carry..
2nd most powerful person in British Columbia btw
Virtually every Canadian will eventually be against this blatant anti-white racism
But Canadians learn these lessons too slowly. It happens every time