Quote:
Originally Posted by **********
It wasn't a bill. It was de regulation. A very over simplified reason is this : Loans were made to millions of people who could not afford to pay it back, of amounts that were greater than the value of the property.
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Indeed. This is why there was no housing crash/bank failures in canada. Regulations in place never allowed it to happen. Banks won't give you a loan if you don't meet their metrics.