Exactly. Leverage works both ways. People who bought in the last 12 months in Canada May be underwater on their mortgages very soon. And unlike the US, they

Exactly. Leverage works both ways. People who bought in the last 12 months in Canada May be underwater on their mortgages very soon. And unlike the US, they can’t lock in payments for 30 years, so there is a potential they’re underwater and see a massive increase in monthly payments when they renew.