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No. Banks have a much higher risk threshold and can repossession you. They are diversified, have qualified financial staff (mostly) and more. Neutral side is g
by AstralStorm 7y ago
No. Banks have a much higher risk threshold and can repossession you.
They are diversified, have qualified financial staff (mostly) and more.
Neutral side is generally considered "best effort" in the axis.
- Mikeb85 7y agoThat ignores the fact that the government regulates what kind of loans banks can make to individuals.
- mistermann 7y agoMore importantly, they're backed by the CMHC so they don't have to concern themselves with risk. https://www.cmhc-schl.gc.ca https://www.cmhc-schl.gc.ca And if there's a crisis large enough that solvency of CMHC might be questionable, they don't have to worry either because the bank of Canada will gladly buy their mortgages, passing the risk onto taxpayers. https://www.macleans.ca/economy/business/the-real-canadian-bank-bailout/ https://www.macleans.ca/economy/business/the-real-canadian-b...