Our friends over at RateHub.ca (who, by the way are one of Canada's leading Mortgage Comparison Websites) have put together an amazing Infographic that looks at what differentiates the Canadian Market from the US Market and looks at the issues of a "bubble".
The infographic has a ton of awesome stats that highlight some of the key differences between Canadian and US policies regarding mortgages.
The infographic goes on to discuss four "shields" that will prevent a "bubble pop" in our marketplace: a) Stricter underwriting standards (an incredible 45% of sub-prime mortgages in the US were stated income!), b) Legislative differences, c) Less risky product types (highlighting that 47% of all mortgages in San Diego County in 2004 were interest only loans) and finally d) Mortgage backed securities.
It's an awesome infographic with a lot of information. Kudos to the team at RateHub for putting it together – enough of my yapping, check it out below!